Sappi's June quarter operating loss $23m
South African-based pulp and paper producer Sappi on Thursday reported a basic loss per share of 28 United States cents for the quarter ended June.
South African-based pulp and paper producer Sappi on Thursday reported a basic loss per share of 28 United States cents for the quarter ended June, compared with EPS of 68 US cents in the March quarter. The group said earnings were unfavourably impacted by special items.
The group reported an operating profit excluding special items of $88-million. The special items include an unfavourable pre-tax adjustment of $111-million, mainly related to plantation price fair value.
The group’s operating loss was $23-million compared with an operating profit of $221-million in the previous quarter.—I-Net Bridge
