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Mondi forecasts box price hikesstevenkiernan, 1 August 2007Be the first to comment on this article Mondi predicts further box price increases in spite of reporting a profit increase of 69% for its corrugated business since last year.
Mondi Group chief executive David Hathorn said: "I am very pleased that Mondi's first set of results as an independent group shows a substantial recovery in operating profits and reflects an improved operating performance and trading environment across all business areas." The firm attributes this increase to record production, improved productivity and efficiency, a better trading environment and 2006 restructuring. Mondi's net profits on disposals were £57.14m following the sale of German flexible plastic and packaging company Bischof + Klein, a 5.3% stake in Mondi Packaging and Paper Swiecie in Poland and various corrugating converting operations. Mondi Packaging is currently awaiting regulatory approval for the acquisition of 53.56% of Turkish corrugated firm Tire Kutsan and 100% of Austria-based Unterland's flexible packaging operations. The group is now dual-listed in South Africa and London following the completion of its demerger from Anglo American at the start of July. Speak Your Mind |
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