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Sappi Limited (JSE: SAP, OTC: SPPJY) released its financial results for the third fiscal quarter on Thursday, 03 August 2017.
Q3-FY17-Feature-article-image.png
Q3-FY17-Feature-article-image.png Sappi Chief Executive Officer Steve Binnie, commenting on the group’s performance, said: “I am pleased to report that during the past quarter Sappi delivered profits up 81% from a year ago, and reduced debt by a further 17% (US$265 million) year-on-year.”
Sappi Limited is pleased to announce that it will bolster its Packaging and Speciality Papers Business through the acquisition of the barrier film technology of Rockwell Solutions Limited.
Sappi Chief Executive Officer Steve Binnie, commenting on the group’s performance, said: “I am pleased to report that Sappi continues to deliver solid results on the back of our strategic shift to place more emphasis on dissolving pulp and speciality packaging. Coupled with strong cash generation and cost management initiatives to reduce variable costs we are well positioned to achieve our 2020 targets.”
Sappi Limited enters into agreement with CellMark, appointing CellMark as the non-exclusive sales agent for Sappi Biotech's Hansa Lignin products.
Sappi to increase capital expenditure
Sappi to increase capital expenditure Pulp and paper company Sappi has said that it was planning to increase its dissolving wood capacity by more than 30 percent in the next four years to extract maximum value from the wood fibre value chain.
Steve Binnie JSE
Steve Binnie JSE When a company’s CEO is given the honour of blowing the metre-long kudu antelope horn at the Johannesburg Stock Exchange (JSE), it not only signals the ritual opening of the local financial market. It also marks the celebration of success – in this case, Sappi’s re-entry to the JSE Top 40 Index, as well as our 80th year of being listed on the JSE.
FinancialMail CorporateReport
FinancialMail CorporateReport Corporate report. When a plan comes together. Hard work has finally paid off for the company, performance improvement on all counts.
PDF icon20161124 Sappi 80th profile in the FM 24 November 2016.pdf (5.37 MB)
Net profit for the year increased by 91%; debt reduction target achieved early; first dividend declared since 2008.
Largest U.S.-based paper mill to receive modernized debarking, chipping and chip distribution systems.

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