Sappi pays out after a record year
Pulp and packaging company says several headwinds from Russia’s war to extreme weather were offset by higher sales prices
10 November 2022 - 10:30
UPDATED 10 November 2022 - 22:50
Shares in paper and packaging group Sappi lifted as much as 9.7% on Thursday after the group reported its best quarterly and annual results to date and resumed dividends after an improved performance.
The share price rose as high as R58.32 intraday as the group valued at R31.3bn on the JSE declared a dividend of $0.15 (R2.61) per share in the year to end-September and its net profit surged from $13m to $536m...
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