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Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “Within the context of ongoing challenging global macroeconomic conditions and weak paper markets I am pleased that the group delivered EBITDA of US$156 million, which was in line with guidance provided in the prior quarter.”
JOHANNESBURG--(BUSINESS WIRE)--Feb 7, 2024--
Sappi says weather conditions worsen the cooking process odour at mill.
Pulp and paper group Sappi has reported a dip in profit to $69-million in the quarter ended March 31, compared with the profit of $188-million reported for the quarter ended March 31, 2022. CEO Steve Binnie attributes the lower profit to the group having to curtail production at its European and North American operations to match sluggish market demand for paper and prevent excess inventory accumulation.
Black Management Forum (BMF) leader, Loyiso Ngqwemla, has co-founded the TooMuch Foundation...