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.
Sappi Reports Second Financial Quarter 2023 Results paperage.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paperage.com Daily Mail and Mail on Sunday newspapers.