Sappi CEO discusses tough year with declining sales and profits

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SIMON BROWN: That was going to be my question – the destocking – because as you said last year there was a pull forward in orders. Are you seeing that destocking start to work its way out of the system to a degree, even if just a little? SIMON BROWN: To your point, it’s tough in South Africa. The toughest is probably load shedding. If you’re exporting your customers aren’t being impacted. But load shedding must be a fairly serious constraint on your local operations.

SIMON BROWN: Yes. I mean life would be glorious without them. But you say you’re exporting out of South Africa – what markets are you exporting into? SIMON BROWN: You talked about some of the challenges upfront. Another one obviously is inflation, input price pressure. We can see it where you’ve got price increases in your graphic paper, you’ve got price increases in packaging and specialty, but in both cases you’ve also got inflation ahead of those price increases.

Sappi CEO Results Sales Profits Tough Year

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