<B>Asia Pulp and Paper Units Report Mixed Fiscal Numbers</B>

Two Indonesian units of Asia Pulp and Paper announced their nine month fiscal results. The differences highlight the mixed signals for the Singapore-based paper company.

APP’s Indah Kiat reported net profits climbing to slightly less than $270 million, compared to last year’s nine-month figure of $89.5 million. The company attributed the jump to sharply higher pulp prices.

At the same time, APP’s printing and writing unit, PT Tjiwi Kimia reported a net of $34.28 million, half of what it reported last year during the same time.

Despite the upbeat numbers from the pulp sector, analysts expect to see pulp prices start to decline next year, which would have a negative impact on pulp producers. Further, paper prices, according to analysts, are expected to continue to decline and to outstrip the fall in pulp prices and other costs, according to Reuters.