Sappi Set for Eight-Year High After Profit Surge on Pulp PricesBy
Net debt reduced for fourth consecutive quarter; stock up 11%
Dissolving wood pulp prices seen remaining at high levels
Sappi Ltd. is on track to close at the highest level since 2008 after the South African producer of dissolving wood pulp reported an eight-fold rise in quarterly profit, helped by higher sales prices for the cotton substitute and a weak rand.
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