Venezuela's Manpa says net income drops 56 pct

Reuters, 05.07.03, 9:45 AM ET

CARACAS, Venezuela, May 7 (Reuters) - Venezuela's Manpa <MPA.CR>, the nation's largest paper manufacturer, on Wednesday said first-quarter net income fell 56 percent, to 364.8 million bolivars from 829.9 million bolivars a year earlier.

The company said EBITDA, or earnings before interest, taxes, depreciation and amortization, fell to 5.67 billion bolivars from 13.39 billion bolivars.

The company did not provide its results in U.S. currency.