Sappi achieves record earnings amid disaster, war, and a pandemic

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Sappi produces dissolving pulp from trees.
Sappi produces dissolving pulp from trees.
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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.

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