Sappi’s first-quarter results for the period ended-December continued their upward trend with profit of $90m from $75m in the same period in 2016. Half of the group’s sales are in Europe, followed by North America at 27% and Southern Africa at 23%. Although the paper market has been in decline for a considerable period, coated paper still made up 59% of the product basket and speciality paper accounted for 11%. Chemical cellulose accounts for 19% of sales. About 37% of Sappi’s operating assets are in Southern Africa, 35% in Europe and 28% in North America. Group sales were marginally up from the period in 2015, but slightly lower than in the fourth quarter to September 2016. The group says this is attributable to better volumes across its main product categories. It includes higher dissolving wood pulp (chemical or specialised cellulose) prices and savings. But these were offset partially by lower selling prices for graphic paper. Meanwhile, an additional accounting week in the quar...
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