Sappi slumps amid profit disappointment

The original article can be found here.

Article highlights:

  • Renewable material and paper company Sappi reported profit of $18 million in the quarter to end-June, compared to a loss of $73 million in the same three months in 2020;
  • But its share price fell by more than 5% on Thursday to R38.34;
  • Analyst Chantal Marx said the group’s profit fell short of market expectations.