Sappi reported revenue down 4% to $1.32bn and adjusted EBITDA down 46% to $80m for the June quarter, pressured by weaker selling prices, lower volumes and costs from the Somerset Mill ramp-up. Adjusted EPS fell to a loss of 4c, from a 9c profit, as trade tensions, oversupply and deflation in China hit pulp markets. Net debt rose 45% to $1.95bn, and no dividend was declared for FY25 as the group focuses on deleveraging.
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