Richards Packaging Income Fund reports decline in third quarter revenue and net income

Richards Packaging Income Fund reported a decline in financial performance for the third quarter of 2024. Revenue fell 4% due to a $3 million drop in healthcare capital sales and a 3% decrease in food and beverage packaging sales. The Fund's net income decreased by $1 million, primarily due to losses on exchangeable shares and lower operational profits. However, a 4% growth in consumables partially offset the decline in healthcare capital revenue. Overall, the results reflect ongoing challenges in the healthcare and food packaging sectors, with higher administration costs impacting profit margins.