"In Europe we have seen quite a lot of recovery in our markets edging toward 1999 levels," said executive chairman Eugene van As.
The forecast came as the South African papermaker reported a 21% fall in sales to 595m, which van As attributed to weak prices and a strong dollar, for the second quarter of its 2002 financial year.
He said margins remained robust despite the weak market for coated fine paper, but pre-tax profits fell 17% to 58m. Van As also said there were signs of an upturn in pulp prices.
During the second quarter Sappi took 150,000 tonnes of pulp and paper production downtime, a strategy it plans to continue.
Have your say in the Printweek Poll
Related stories
Latest comments
"This is a repeat of what happened to 1066 Capital t/a Crystal a year ago. They also never put this company in administration.
We are all still left unable to claim the redundancy and notice pay owed..."
"Totally agree"
"Best wishes to everyone involved. Nice to have a good story to read in Printweek."
Up next...

Short-grain 48pp Lithoman still in situ
Walstead closes York, but still hopes for reprisal

No power or software needed
Tech-ni-Fold innovates with new web creaser

Start-up starts printing
Wolf & Flower blossoms following first Mimaki install

Revoria PC1120 installed