Mondi FY underlying operating profit up 10% to EUR767m

Paper group Mondi (MND‚ MNP) reported full-year underlying operating profit to end December up 10% to EUR767m on Tuesday.

The group declared a final dividend of 28.77 euro cents per share.

Underlying earnings per share increased by 13% to 107.3 euro cents per share and the return on capital employed was 17.2%‚ with a strong contribution from all business units.

The packaging paper division continued to deliver very strongly despite a generally weaker pricing environment‚ driven by cost reduction and currency benefits.

The fibre packaging business benefited from lower paper input costs and good volume growth. Consumer Packaging saw a strong improvement in trading in the second half of the year.

Mondi said economic growth was expected to remain below historical averages in the regions in which the group operated.

Source: BDpro