Sappi returns to profit, but Durban port woes take their toll
The group’s North American operations has delivered its best profit in more than two decades, amid buoyant demand and better prices for key products
11 November 2021 - 10:48
UPDATED 11 November 2021 - 14:09
Sappi, the world’s largest manufacturer of dissolving pulp, remains confident tight market conditions for key products will support its profitability going into 2022, even as it battles surging energy costs and global supply chain issues, notably a slew of recent problems at the port of Durban.
Ongoing global supply chain problems, worsened by SA’s civil unrest in July, as well as a cyberattack at the Durban port, resulted in a backlog of 100,000 tonnes of dissolving pulp at the end of the group’s 2021 year, shaving off about 5%, or $30m from the group's core profit...
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