Briefs
Sappi swings to Q3 profit on cost cutting
JOHANNESBURG (Reuters) – South African pulp and paper maker Sappi posted a return to third-quarter profit on Thursday, as cost cuts in its European business offset weak paper prices.
Sappi's share price on the day (11h30)
Demand for glossy paper has fallen as tablet computers and e-readers take a huge bite out of the traditional magazine industry and as retailers rely more on websites than printed catalogues.
Its shares were down 1.4 percent at 42.40 rand at 0735 GMT.
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