Sappi CEO Steve Binnie says while the company has faced rising costs and supply chain disruptions, increasing the prices on its own products kept the group afloat - leading to a record performance in the second quarter of 2022.
Like many companies across industries, Sappi is facing changes related to higher costs. In addition to the impact of the Covid-19 pandemic, Sappi has had to deal with the related supply chain disruptions, which were later compounded by Russia’s invasion of Ukraine.
"But because of those tight markets … we’ve been able to put through a number of selling price increases to offset the impact. Our total topline sales are up 45% and I think that’s reflective of what we are doing to manoeuvre yourself, through the challenges that are out there," he said.