BRIEF-Sappi Qtrly HEPS 2 U.S. Cents

  • Reuters
  • Stock Market News
BRIEF-Sappi Qtrly HEPS 2 U.S. Cents
Credit: © Reuters.

Aug 1 (Reuters) - Sappi Ltd SAPJ.J :

* RESULTS FOR THE QUARTER ENDED JUNE 2019

* CAPITAL EXPENDITURE FOR REMAINDER OF YEAR IS EXPECTED TO BE APPROXIMATELY US$200 MILLION

* QTRLY HEADLINE EPS 2 US CENTS

* QTRLY SALES DOWN 5% TO $1,371 MILLION

* DWP PRICING IS EXPECTED TO CONTINUE TO BE UNDER PRESSURE WHILE VSF PRODUCERS ARE IMPACTED BY LOW MARGINS

* EXPECT ANNUAL CAPEX LEVELS TO REDUCE OVER NEXT TWO YEARS

* Q4 PROFITABILITY WILL LIKELY BE BELOW THAT OF PRIOR YEAR

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