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27 June 2003 SA's Top 20 Companies 8 SAPPI Total score: 55,3 Historic score: 35 FM's score: 69 Management's vision is paying off. For 20 years it has been about being bigger. Ambitious, yet successful, acquisitions in Europe and North America have made it a respected player in the international pulp and paper sector. It has also shown it can manage its business through market cycles. It is in a global downturn now, but management strength makes it a long-term winner.

SA's TOP 20 COMPANIES Impala Platinum Sasol Pick 'n Pay Abil Anglo Platinum MTN Group Harmony gold Sappi Energy Africa Mr Price Reunert Delta Electrical Afrox Health Chemserve BHP Billiton Trans Hex Ceramic Industries Oceana Altech ABI Sapp: investing for the future

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