Commenting on the result, Sappi Chief Executive Officer Steve Binnie said: "It is pleasing to note that the group has continued the trend of improving year-on-year performance, with EBITDA excluding special items of 140 million US dollar, operating profit excluding special items of 67 million US dollar and profit for the period of 17 million US dollar."

Binnie underlined that "capital expenditure for the full year is expected to remain below 300 million US dollar and with the proceeds of the Usutu sale and positive cash generation expected in the fourth quarter, we anticipate net debt to end the year close to 2 billion US dollar."

"The fourth quarter is a seasonally stronger quarter and we believe that the result for the quarter will continue the trend of improved year-on-year quarterly performance which we have experienced throughout 2014", he went on.