Sappi posts solid growth in third-quarter profit

Paper and packaging manufacturer Sappi has improved its operating performance in the third quarter of the year, compared with the same quarter of last year, delivering a 28% increase in profit from $40-million to $51-million.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) grew by 42% year-on-year from $106-million in the third quarter of last year to $151-million in the reporting quarter.