Sappi Ltd., the South African company that owns the Sappi Fine Paper mill in Cloquet, reported Thursday an operating profit for its fiscal year, which ended Sept. 30.
A year ago, the company's full-year results showed a $109 million operating loss, but this year the company is reporting a $125 million operating profit despite lower sales figures.
Sappi posted sales of $4.9 billion for the recently completed fiscal year and $5 billion for the year ending Sept. 30, 2005.
A company news release also reported a quarterly operating profit of $51 million on sales of $1.3 billion for the three months ending Sept. 30, compared with an operating profit of $12 million on sales of $1.4 billion for the fiscal year that ended in 2005.
