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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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