North Vancouver's Fortress Paper Ltd. (TSX:FTP) realized a 33% increase in revenue and a substantial rise in net profit in its third quarter ending September 30, 2008.
Fortress said its sales rose to $45.2 million from $34.1 million in the same period a year earlier due primarily to capacity increases at the specialty paper company's two mills, which were largely completed last year. Net income rose to $2.3 million from $211,000.
The company produces specialty non-woven wallpapers and security paper used for currencies, passports and other highly sensitive forms of identification.
Fortress Paper's share price range during the past week: between $6.15 and $6.47; 52-week high: $11.98; 52-week low: $4.80.