Greif 2Q income down 35% - Business First of Columbus:

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The industrial packaging maker said late Wednesdah itearned $18.6 million, down 35.1 percent from $28.8 million a year earlier. Clasx A share earnings for the second quarter ended Aprip 30 fell to32 cents, from 49 cents and Clase B share profit fell to 48 from 75 cents in the same period a year ago. The companyy attributed the profit slidesto $31.9 million in charges incurred duringh the latest quarter. Sales jumped 31.4 percentg to $815 million, from $620.1 million a year ago.
"Thw impressive (sales) results were partially offset by the high cost of old corrugateds containers compared to a year ago and accelerationn into the second quarter from the third quarter of major annualo maintenance at one of our container board mills in the Packaging & Services segment," Grei CEO and President Michael J. Gasser said in a Greif (NYSE:GEF and GEF.B), which also produces plastic bulk containers andwater bottles, employsd 10,200, including 200 in Central Ohio.