{"id":7771,"date":"2012-02-08T13:49:54","date_gmt":"2012-02-08T11:49:54","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-sappi-earnings-tick-up-as-cost-cuts-help\/"},"modified":"2012-02-08T13:49:54","modified_gmt":"2012-02-08T11:49:54","slug":"update-2-sappi-earnings-tick-up-as-cost-cuts-help","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-sappi-earnings-tick-up-as-cost-cuts-help\/","title":{"rendered":"UPDATE 2-Sappi earnings tick up as cost cuts help"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Q1 headline EPS 8 U.S. cents vs 7 U.S. cents<\/span><\/p>\n

<\/span><\/p>\n

* Says Q2 profit to rise quarter-on-quarter<\/p>\n

(Adds details, quotes, analyst)<\/p>\n

<\/span><\/p>\n

By Agnieszka Flak<\/p>\n

<\/span><\/p>\n

JOHANNESBURG, Feb 8 (Reuters) – South African paper
\nmaker Sappi posted a slight rise in first-quarter
\nearnings on Wednesday, lifted by lower input prices and
\naggressive cost cuts, and said it expected more improvement
\nahead.<\/p>\n

<\/span><\/p>\n

As the paper industry struggles to recover from a slump
\ncaused by anaemic demand and overcapacity, Sappi has closed
\nmills and is targeting higher-margin businesses such as chemical
\ncellulose, a move analysts say is finally showing results.<\/p>\n

<\/span><\/p>\n

“They have improved the quality of the business. They may
\nfinally be getting the story right, but it may take a while for
\nit to fully come through into the bottom line,” said Mohamed
\nKharva, an analyst at Nedbank Securities.<\/p>\n

<\/span><\/p>\n

“The greatest concern is the Chinese and how much capacity
\nthey have added and how that will impact on the business in
\ncoming months.”<\/p>\n

<\/span><\/p>\n

Should market conditions remain stable, Sappi, the world’s
\nlargest maker of fine paper used in glossy magazines such as
\nVogue, said it expected core profit for the second quarter to
\nimprove from the first quarter.<\/p>\n

<\/span><\/p>\n

Shares in the company rose 1.69 percent to 27 rand by 0810
\nGMT, outperforming a 0.63 percent rise in the JSE All-share
\nindex. The stock is up nearly 12 percent so far this
\nyear.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Q1 headline EPS 8 U.S. cents vs 7 U.S. cents * Says Q2 profit to rise quarter-on-quarter (Adds details, quotes, analyst) By Agnieszka Flak JOHANNESBURG, Feb 8 (Reuters) – South African paper maker Sappi posted a slight rise in first-quarter earnings on Wednesday, lifted by lower input prices and aggressive cost cuts, and said […]<\/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-7771","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\/7771","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=7771"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7771\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}