The announcement comes on the back of its paper and packaging group’s interim results, which were published today (1 August). The figures shoed pre-tax profits for the six months to 30 June 2007 almost quadrupled to £168m (€250m) on sales of £2.1bn.
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.
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