OREANDA-NEWS.  February 28, 2013. The Board of Directors of Nine Dragons Paper announces the unaudited condensed consolidated results of the Company and its subsidiaries for the six months ended 31 December 2012. Nine Dragons Paper achieved a revenue of approximately RMB14.7 billion for the six months ended 31 December 2012, representing an increase of approximately 16.6% over the corresponding period last year, as the company said in a press release received by Lesprom Network.

The major contributor of the Group’s revenue was still from its paper packaging business which accounted for approximately 92% of the total group revenue, with the remaining revenue generated from its recycled printing and writing paper, pulp and high value specialty paper products business.

The increase of Group’s sales is mainly a result of substantial increase in the Group’s sales volume. The sales volume of linerboard, high performance corrugating medium and coated duplex board for the period increased by approximately 19.8%, 11% and 103.1% respectively, as compared with the corresponding period last year, while recycled printing and writing paper was only commenced commercial operation in the second half of FY2012.

Nine Dragons Paper’s operating profit for the Period was approximately RMB1.6 billion (USD 256 million), representing increase of RMB315 million (USD50 million) or 23.6% over the approximately RMB1.3 billion (USD 208 million) of the same period last year.

Profit for the Period decreased by 20.2% to approximately RMB677.2 million (USD 109million).

The Board has declared and approved an interim dividend of RMB2.0 cents (equivalent to approximately HK2.47 cents) per share for the Period, which is expected to be payable to the shareholders by post on or before Thursday, 30 May 2013.

Nine Dragons Paper (Holdings) Limited is the world's largest in environmentally friendly recovered paper based paper manufacturing in terms of production capacity. Nine Dragons Paper and its subsidiaries primarily produce linerboard, including kraftlinerboard, testlinerboard and white top linerboard, high performance corrugating medium and coated duplex board.