The Globe and Mail reports in its Tuesday edition that it has been a lousy year to be an investor, with almost every sector except energy in the red. Globe columnist Gordon Pape writes that there are a few non-fossil-fuel stocks that have bucked the trend. One is Winpak, a Winnipeg manufacturer of packaging and packaging machinery. Its products are used primarily in food, beverage and health care applications. Its modified-atmosphere packaging is used to extend the shelf life of perishable goods such as meats, poultry and cheeses as well as health care products. The stock was first recommended in August, 2021, at $41.08. It drifted down to $37.17 at the end of December but has since rebounded strongly. It closed Monday at $45.73, up 23 per cent year-to-date. The stock is doing well because the company is doing well. Second-quarter results released on July 21 showed an increase of 27 per cent in revenue from the year before, to $310.3-million (U.S.), from almost $244-million (U.S.) in 2021. Net income in the quarter was $34.1-million (U.S.), up from $29.4-million (U.S.) the year before. Despite economic headwinds, the company is optimistic that sales growth will continue at a comparable rate for the rest of the year.
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