Sappi Ltd. on Tuesday reported strong sales and even stronger earnings per share for the quarter that ended March 31.
The South African paper company with a coated fine paper mill in Cloquet announced sales rose to $1.32 billion from $1.26 billion for the same quarter of 2006.
Earnings per share rose to 25 cents for the quarter compared with 4 cents a year earlier.
New U.S. duties of Asian imports are likely to lead to increased prices of some coated fine paper, Sappi Chairman Eugene van Ascq van As said in a statement.
Demand for coated fine paper has grown in major markets but profitability has not kept pace due to high costs, he said.
