Listed company AMG Packaging & Paper Company made less profit in its first quarter ended November.
Post tax earnings amounted to $24.6 million - $10.6 million less than the $35.3 million made in 2021.
AMG Packaging & Paper Company also saw a drop in revenue performance for the three months.
Total earnings was 5.83 per cent lower, coming in at $254.3 million.
For the same quarter in 2021, total revenues were valued at $270 million.
The company says the fall in net earnings was driven by a significant rise in expenses and depreciation in the local currency versus the US dollar.
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