Revenue down, profits up at Intertape Polymer

MONTREAL — Intertape Polymer Group posted net earnings of $15.7 million in Q3, while total revenue fell 4.1% to just over $200 million. Lower petroleum costs for raw goods drove down retail prices, accounting in part for the loss. At the same time, sales volume rose by about 3.4% or $7 million. Earlier in the week, activist investors FrontFour Capital Group and Zelman Capital, which combined own some 6.5% of Intertape, called on the company to buy back more shares and add more industry veterans to its board, among other reforms.