Sappi eyes recovery despite Covid-19 tearing into profits
The group is optimistic it will see a normalisation by mid-2021, as prices of some of its key products recover in the wake of Covid-19 chaos
05 November 2020 - 14:24
Sappi, the world’s largest manufacturer of dissolving wood pulp, says it is cautiously optimistic that its earnings will normalise by about mid-2021, after the first waves of Covid-19 shaved off some $300m (R4.7bn) in operating profits during its year to end-September.
The group idled plants as demand for wood pulp and graphic paper wilted during the pandemic, but CEO Steve Binnie said there has already been a partial recovery, though a second wave of Covid-19 remains a threat...
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