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Mondi operating profit to increase by more than 20%Josh Brooks, 30 July 2010Be the first to comment on this article Mondi is set to report an increase in operating profits of at least 20% for the first half of the year. The Anglo-South African firm is due to publish results on 10 August but said that underlying operating profit for the six months to 30 June would be “considerably higher than that of the comparable period in the prior year”. Under South African stock exchange rules, listed firms are required to publish a trading statement as soon as it becomes reasonably certain that financial results will differ by at least 20% from those of the corresponding period. In the first six months of 2009, Mondi reported operating profits of EUR 138m, down 48% on 2008. Mondi said there would be a special-item charge of EUR78m after tax mostly due to asset impairment, restructuring and closure costs. A net special item gain for the period is around EUR5m after tax. Half-year basic earnings per share are expected to be between 18 and 23 euro cents compared to a 7.1 cent loss last year. Click here for today’s headlines from across the packaging industry Speak Your Mind |
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