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Sappi share price jumps after group flags earnings surge

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Notwithstanding inflationary cost pressures, Sappi is expecting another strong performance in the fourth quarter

Sappi's share price had its biggest one-day gain since February, up 9.33% to R50.29, after the company said it expected earnings for the fourth quarter would be higher than those of the unprecedented levels achieved in the third.

In the third quarter, the dissolving pulp and packaging company’s earnings before interest, taxation, depreciation and amortisation rose to a record $371m from $145m previously, shored up by pricing momentum it was able to capitalise on amid a tight global environment...

 

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