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Sappi Ltd (SPPJY.PK)

SPPJY.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

Sappi ltd says issues redemption notice for $400 mln 2017 bonds
Thursday, 9 Mar 2017 08:10am EST 

Sappi Ltd : Issues redemption notice for $400 million 2017 bonds .Bonds mature in July 2017 but have 3 month call window at par;SPH will use available liquidity resources to repay notes in full on 18 April.  Full Article

Sappi Ltd says Q1 profit rises to $90 million
Wednesday, 8 Feb 2017 01:00am EST 

Sappi Limited : Q1 ebitda excluding special items us$201 million (q1 2016 us$175 million) . Profit for period us$90 million (q1 2016 us$75 million) . Q1 eps excluding special items 16 us cents (q1 2016 13 us cents) . Net debt us$1,338 million, down us$396 million year-on-year . Profit for comparative period increased from us$75 million to us$90 million . Tax payments of us$34 million were higher than last year as a result of increased taxable income in south africa. . Q1 sales at $1,309 million versus $1,284 million . Demand for dwp remains favourable and pricing has recovered during january. . In north america we will be investing approximately us$165 million to convert pm1 at Somerset mill . Capital expenditure in 2017 is expected to be approximately us$350 millio .Expect to reduce net debt levels further during course of 2017 and it remains our intention to repay maturing 2017 bonds from current liquidity sources.  Full Article

Sappi reports eight-fold growth in Q3 profit
Thursday, 4 Aug 2016 03:00am EDT 

Sappi Ltd : Q3 profit for period us$32 million versus $4 million in 2015 . Specialised cellulose business generated $75 million of ebitda, a 34 pct improvement over equivalent quarter last year . Will produce more DWP at our Cloquet Mill . Capex expenditure in last quarter of fiscal 2016 is expected to be approximately $100 million . Q3 EPS excluding special items was 11 us cents versus 2 us cents in 2015 . Q3 sales $1,223 million versus $1,272 million last year . Coated graphic paper markets continued to be challenging during quarter and demand was somewhat weaker than in recent periods . Demand for DWP remains favourable and recent improvements in textile fibre prices, vsf operating rates should support DWP prices at current levels for coming months . "Graphic paper markets have weakened in europe and united states in past quarter, with both volume and pricing under pressure" .Sees Q4 EBITDA excluding special items to be approximately in line with that of performance in equivalent quarter last year.  Full Article

Sappi sees 2016 capex in line with last year
Monday, 9 May 2016 03:01am EDT 

Sappi Ltd : Profit for period US$100 million (q2 2015 us$56 million) period ended March 2016 . Q2 EBITDA excluding special items US$195 million (q2 2015 US$170 million) . Demand remains positive and we remain confident that, at current pricing levels and exchange rates, outlook for this business is positive. . Capex in 2016 is expected to be in line with 2015 and is focused largely on energy and debottlenecking projects in S.Africa together with annual maintenance at mills . As a result of improved operating profits and lower expected finance costs, offset somewhat by increased tax charges, we expect a strong increase in our earnings. .Expect to reduce our net debt further over course of year and improve our financial leverage closer to our target of less than two times net debt to EBITDA.  Full Article

Sappi Ltd sells Cape Kraft recycled packaging mill to Golden Era Group
Tuesday, 14 Jul 2015 04:10am EDT 

Sappi Ltd:Says sale of its Cape Kraft recycled packaging paper Mill to Golden Era Group.In March 2015 Sappi initiated closed tender process after receiving many expressions of interest to buy mill.It is expected that transaction will close in Sept. 2015.Says disposal is not categorisable in terms of section 9.5 of the JSE Listings Requirements.Sappi will receive just short of 600 mln Rand from two transactions.  Full Article

Borregaard and Sappi announce 20,000 tonnes capacity expansion at lignin JV in South Africa
Tuesday, 7 Jul 2015 01:20am EDT 

Borregaard ASA:Borregaard and Sappi announce 20,000 tonnes capacity expansion at lignin joint venture in South Africa.Says Borregaard and Sappi have decided to increase lignin production capacity by 20,000 tonnes at LignoTech South Africa.Says investment by LignoTech is estimated at 105 million rand (about 70 million Norwegian crowns), and project is expected to be completed in 2017.  Full Article

Sappi Ltd announces sale of Enstra Mill recycled packaging paper business to Corruseal Group
Thursday, 2 Jul 2015 04:15am EDT 

Sappi Ltd:Has reached an agreement to sell its Enstra Mill recycled containerboard and kraft papers business situated in Springs near Johannesburg to Corruseal Group.Sappi opened negotiations with Corruseal when it was jointly decided that there was a good fit between Corruseal and Enstra Mill.The mill will continue to manufacture recycled and lightweight packaging paper.Says existing Security Paper, Office, Speciality and Folio businesses also conducted at the mill will remain with Sappi.A transfer plan is being arranged with current staff and customers The disposal is not categorisable in terms of section 9.5 of JSE Listings Requirements.Transaction value has not been disclosed.  Full Article

More From Around the Web

South Africa's Sappi to invest $305 mln in North America and Europe

JOHANNESBURG, Feb 8 South African pulp and paper maker Sappi will invest $305 million in North America and Europe to increase its packaging capacity, the firm said on Wednesday after releasing its first-quarter results.