SAPPI LTD (SAP) 6-K

Notes to the unaudited pro forma condensed consolidated income statement for the six month period ended June 2008
a. The Acquired Business income statement presentation format differs in certain respects from that of Sappi. The table below conforms the Acquired
Business information for the six month period ended June 2008, appearing elsewhere in this document, into Sappi's reporting format.
EUR’000 EUR’000 EUR’000 US$’000
6 month
period
ended June
2008 Abridging
notes Reclassifications Reclassification Conformed presentation
notes format
(i) (A),(B) (ii)
Conformed presentation
format
Sales 631,239 – 631,239 966,743
Cost of sales 599,522 (a) 24,864 (1),(2) 624,386 956,247
Gross profit 31,717 24,864 6,853 10,496
Selling, general and administration expenses – 30,106 (1) 30,106 46,107
Share of profit (loss) from associates and
joint ventures – – - -
Other operating (income) expenses 69,768 (b) (54,970) (2) 14,798 22,663
Operating loss (38,051) – (38,051) (58,274)
Net finance costs 5,625 – 5,625 8,614
Finance costs 3,775 – 3,775 5,781
Finance revenue (457) – (457) (700)
Net foreign exchange gains 2,307 – 2,307 3,533
Loss before taxation (43,676) – (43,676) (66,888)
Taxation benefit (5,835) – (5,835) (8,936)
Loss for the period (37,841) – (37,841) (57,952)
(i) The Acquired Business financial information has been extracted from the Acquired Business reviewed condensed results for the six month period ended
June 2008.
(ii) The conformed carve out income statement for the Acquired Business graphic paper business has been converted from Euros to US dollars using the
average exchange rate for the six months ended June 2008 of EUR1 : US$1.5315.
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