Sappi Profit Jumps as Pulp Maker Sees Higher 2016 EarningsBy
Sappi benefits from depreciation of South African rand
Low rainfall had a $6 million negative effect on the quarter
Sappi Ltd., the world’s biggest producer of dissolving wood pulp, said first-quarter profit more than tripled after higher prices for the cotton substitute helped offset the effects of a drought in South Africa on volumes.
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