{"id":13141,"date":"2012-08-03T13:58:07","date_gmt":"2012-08-03T11:58:07","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/update-1-sappis-q3-loss-widens-yy-outlook-tough\/"},"modified":"2012-08-03T13:58:07","modified_gmt":"2012-08-03T11:58:07","slug":"update-1-sappis-q3-loss-widens-yy-outlook-tough","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-sappis-q3-loss-widens-yy-outlook-tough\/","title":{"rendered":"UPDATE 1-Sappi&#8217;s Q3 loss widens y\/y, outlook tough"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Q3 diluted headline loss at 20 U.S cts per share<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Q3 operating profit steady at $60 mln<\/p>\n<p><span><\/span><\/p>\n<p>* Sees tough market conditions ahead<\/p>\n<p> (Add details)<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Aug 3 (Reuters) &#8211; South African paper maker<br \/>\nSappi said on Friday its third-quarter loss widened by<br \/>\n54 percent, hit by slow demand and  planned annual maintenance<br \/>\nshutdowns, and the company expected market conditions to remain<br \/>\ntough.<\/p>\n<p><span><\/span><\/p>\n<p>Sappi, the world&#8217;s largest maker of fine paper used in<br \/>\nglossy magazines, said diluted headline loss per share for the<br \/>\nquarter to end-June totaled 20 U.S. cents, compared with a loss<br \/>\nof 13 U.S. cents a year earlier.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings are the main profit gauge in South Africa<br \/>\nand exclude certain one-off, financial and non-trading items.<\/p>\n<p><span><\/span><\/p>\n<p>The company said operating profit, excluding special items,<br \/>\nwas steady at $60 million from the same period last year.<\/p>\n<p><span><\/span><\/p>\n<p>The global paper industry is struggling to recover from a<br \/>\nslump caused by sluggish demand and overcapacity and Sappi said<br \/>\nmarket conditions would remain tough.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Trading conditions are expected to be weaker than a year<br \/>\nago, with lower volumes for most of our products and pricing,<br \/>\nparticularly for pulp, to remain under pressure,&#8221; it said in a<br \/>\nstatement.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Q3 diluted headline loss at 20 U.S cts per share * Q3 operating profit steady at $60 mln * Sees tough market conditions ahead (Add details) JOHANNESBURG, Aug 3 (Reuters) &#8211; South African paper maker Sappi said on Friday its third-quarter loss widened by 54 percent, hit by slow demand and planned annual maintenance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13141","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13141"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}