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Sappi Limited (JSE: SAP, OTC: SPPJY) released its results for the second fiscal quarter FY18 on Monday, 14 May 2018 at 09:00 South African time.
Sappi announced today further progress in the development of its biorefinery capacity with the confirmation that it will construct a demonstration plant to further scale up its novel Xylex® technology for the production of Xylitol and Furfural.
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Q2-FY18-Feature.png Commenting on the results, Sappi Chief Executive Officer Steve Binnie said: “I am very satisfied with our performance for this quarter as reflected by increased sales, EBITDA and net profit. I’m particularly pleased that all regions were able to deliver higher sales volumes despite the short-term impact of the expansion and conversion projects. We faced higher raw material costs, in particular pulp, for our paper businesses but were able to increase selling prices to offset most of this impact. The acquisition of the Cham speciality paper business was completed during the quarter and the integration into Sappi is moving ahead smoothly.”
Commenting on the result, Sappi Chief Executive Officer Steve Binnie said: “Our performance for this quarter was in line with our expectations. We continue to work hard to mitigate increased input costs and the impact of a stronger Rand/Dollar exchange rate. We will begin to see the benefits of selling price increases during the rest of the financial year.”
Sappi Chief Executive Officer Steve Binnie, commenting on the group’s performance, said: “Sappi has delivered another strong set of results with profits up 6% year-on-year. I am very pleased with the growth of the dissolving wood pulp (DWP) and speciality packaging businesses.”
Sappi Limited is pleased to announce that it will bolster its biorefining expertise through the acquisition of the Xylex® and Versalac® technologies owned by Plaxica Limited.
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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.

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