• Future imperfect

    A lack of compassion with ordinary people is crucial to SA’s failures, says Mandi Smallhorne.

  • Will Gordhan be fired?

    An economist ponders the top question concerning those who control international capital flows.

  • Terry Bell's Inside Labour

    The economic policy pendulum seems to be swinging away from laissez-faire to regulation.

All data is delayed
See More

Sappi third-quarter loss widens

Aug 03 2012 10:08

Company Data


Last traded 78
Change -1
% Change -2
Cumulative volume 662135
Market cap 0

Last Updated: 24-10-2016 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Sappi prices $700m notes offering

Sappi bumps up second-quarter profit

Sappi earnings tick up, sees better Q2

Sappi may cut jobs in restructuring

Sappi slumps on weak demand

Sappi puts debt cut before investment


Johannesburg - South African paper maker Sappi [JSE:SAP] said on Friday its third-quarter loss widened by 54%, hit by slow demand and planned annual maintenance shutdowns, and the company expected market conditions to remain tough.

Sappi, the world’s largest maker of fine paper used in glossy magazines, said diluted headline loss per share for the quarter to end-June totaled 20 US cents, compared with a loss of 13 US cents a year earlier.

The company said operating profit, excluding special items, was steady at $60m from the same period last year

The global paper industry is struggling to recover from a slump caused by sluggish demand and overcapacity and Sappi said market conditions would remain tough.

“Trading conditions are expected to be weaker than a year ago, with lower volumes for most of our products and pricing, particularly for pulp, to remain under pressure,” it said in a statement.

Sappi has said chemical cellulose, which it produces from its own woods for conversion into raw materials for clothing, plastics, food and pharmaceutical products, is one of the higher-margin businesses it plans to expand on.

The company, which is also the world’s top producer of chemical cellulose, is currently investing a total of about $500 million to boost its total capacity to more than 1.3 million tonnes a year by 2013.

Sappi shares were down 1.65% to R24.00 as of 07:28 GMT.

Sappi shares were down 1.23% to R24.10 on Friday morning.




Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote