Sappi’s profits on a tear amid tight global paper markets
12 May 2022 - 10:03
Paper and packaging group Sappi has reported first-half profit in 2022 that is more than tenfold its pre-pandemic level, cashing in on a tight global paper market that has allowed it to pass on increased costs such as for energy and chemicals.
Group revenue jumped 45% to $3.55bn (R57.5bn) in the six months to end-March, with the group posting a $311m profit, from a loss of $40m previously. Net debt was trimmed by 13% to $1.79bn...
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