Cost cuts and a focus shift to higher margin products has put the pulp and paper producer on track to performing better than it has in five years.
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Sappi, the world’s biggest maker of fine paper, increased second-quarter basic earnings per share to 68 United States cents from 25 US cents a year ago, the company said on Tuesday. Sappi said operating profit excluding special items rose 33% to -million in the three months to end-March from -million in the year-ago period.
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/ 8 November 2007
Papermaker Sappi on Thursday posted full-year basic earnings per share of 89 United States cents after a loss in the previous comparable period, citing improved margins and higher prices for its products. For the fourth quarter to end in September, the world’s largest producer of fine paper posted a basic EPS of 27 US cents.