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August : Mondi H1 earnings likely to see marginal lift

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5 August, 2014

Mondi H1 earnings likely to see marginal lift

 

Mondi

Paper and packaging group Mondi said on Tuesday that it expects basic earnings a share for the half-year ended June 30 to be between €0.49 and €0.54, remaining largely flat on the €0.49 posted in the first half of the prior year.

Similarly, basic headline earnings a share were expected to increase from the €0.45 posted in the first six months of 2013 to between €0.46 and €0.51 for the period under review.

In addition, underlying operating profit for the half-year was expected to be above the €367-million posted for the first half of the prior year.

This was largely owing to a drop in special item charges after tax, from €68-million for the first six months of 2013, to €16-million for the six months ended June 30.

"The 2014 special item charge relates to restructuring activities in the group's coatings business, as well as a net charge on early redemption of the €280-million Eurobond, partly offset by the release of a previously recognised provision for transaction costs," the company outlined.

Edited by: Chanel de Bruyn

Source : www.engineeringnews.co.za

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