JSE-listed woodfibre-based products company Sappi CEO Steve Binnie has said the company expects to post fourth-quarter results – for the three months to September 30 – that will be materially above that reported on August 6 for the third quarter to end June.
During a conference call to present the company's results for the three months to June 30, he said that, despite challenging market conditions, the teams delivered disciplined cost-containment and encouraging sales performance.
Sappi reported earnings before interest, taxes, depreciation and amortisation of $53-million for the quarter under review, up from $52-million in the second quarter to March 31.
Capital expenditure of $62-million in the quarter had been tightly controlled and focused primarily on essential maintenance and operational reliability initiatives, he said.
A key feature of the quarter was the improved performance of the company’s North American operations.
