07 Nov 2013

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Sappi's results hit by falling demand

Reuters
Johannesburg - South African paper maker [JSE:SAP] on Thursday swung to a loss in the fourth quarter, hurt by falling demand in its major markets.

, the world's largest maker of the fine paper used in glossy magazines, reported a diluted headline loss per share of 8 US cents (about 80c SA) for the quarter to end-September from a profit of 12c US (about R1.20) a year earlier.

Headline earnings are the main profit gauge in and exclude certain one-off and non-trading items.

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