Group revenue rose to €3.342bn from €.819bn. Underlying operating profit was 35% higher at €366m‚ while cash generated from operations grew 21% to €431m.
An interim dividend of 9.55c per share was declared‚ up 7% on a year ago.
Mondi's chief executive David Hathorn said a strong operating performance and benefits derived from strategic acquisitions completed towards the end of last year had allowed Mondi to deliver record financial results‚ despite what remained a challenging economic backdrop.
"The strong profitability and relentless focus on performance is reflected in a return on capital employed of 14.8%‚ which remains well above our through-the-cycle hurdle rate of 13%‚" he said.
"A focus over the past six months has been on integrating and optimising the significant acquisitions made towards the end of 2012‚ and executing the major expansion projects initiated over the past 18 months. I am pleased to report that we continue to make good progress in this regard‚" Hathorn said, adding that the group's major expansion projects were on schedule and within budget.
"Some of the synergies identified at the time of the acquisitions have already been achieved and we remain on track to meet the previously announced synergy targets. Just as importantly‚ we have made good progress in aligning organisational culture‚ which sets the platform for the future success of the combined business," said Hathorn.
He said that in the immediate future new industry capacity in the uncoated fine paper segment‚ coupled with prevailing demand softness in Europe‚ could affect the supply-demand balance.
"Furthermore‚ the second half will be impacted by the group's regular annual mill maintenance programmes. However‚ with the momentum from the strong first-half performance and the expected continuation of a good pricing environment in the packaging grades‚ management remains confident of delivering in line with its expectations," he added.
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