Sequana's loss widens
| 30 July, 2014
Sequana, the parent company of paper merchant Antalis, reported a net loss of € 80 million for the first half of 2014, compared to a loss of 36 million a year earlier, but turnover was up 2.7% to € 1,720 million. The increase was due to an improved product mix in group activities and the contribution of the Xerox office paper distribution business.
On April 10, Sequana announced a restructuring plan and a capital increase of € 66.3 million to enable it to recover its accounts after a 2013 that saw its net loss widen to 301 million euros against 123 million the previous year.