Intertape Polymer posts Q4 gains

MONTREAL — Intertape Polymer Group has posted Q4 profits of $21.7 million or $0.36 per share, an increase of $4.2 million. The packaging maker increased its revenues by 7.3% to $209.9 million, which it attributed to an increase in sales volume of some of its tape and woven products as well as revenue from the Powerband and TaraTape acquisitions. For the full year, revenues increased 3.4% to $808.8 million. The company reported a $51.1 million profit ($0.85 per share) for 2017. The figure represents a $5.6 million decrease, largely due to higher expenses and the boost given to 2016’s results by flooding insurance.