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Mondi profits expected to be €270m

30 Jul 2013

Mondi said on Tuesday (30 July) that for the six months ended June‚ its basic headline earnings per share are expected to be between 43c and 48c, up from 30.9c in the previous year.

Its basic underlying earnings per share are seen at between 46c and 51c from 30.9c and its basic earnings per share are expected to be between 32c and 37c from 31.7c last year.

In a trading update the group said it can confirm that the underlying operating profit for the second quarter is expected to be higher than that of the first quarter at €162m and higher than last year's figure for the comparable period of €150m.

Underlying operating profit for the six months is expected to be €270m.

In the six months ended June 2012‚ the group recognised a net special item gain after tax of €4m. The special items charge for the six months ended June this year are around €68m and relate to restructuring activities and impairment charges in the uncoated fine paper operations in Austria (€50m) and in the newsprint operations in South Africa (€18m) as well as the closure of the Lindlar consumer packaging operation in Germany (€13m)‚ with net tax relief of €13m.

Mondi's results will be released in August.

Source: I-Net Bridge

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