Mondi first-half earnings up slightly

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MondiPaper1

Johannesburg - Paper maker Mondi posted a slight rise in first-half earnings on Thursday as a strong performance in its packaging business offset lower prices of paper grades.

Mondi, which is also listed in London, said diluted headline earnings per share for the six months to the end of June totalled 48.2 euro cents from 45.6 euro cents a year earlier.

Headline earnings, the main measure of profit in South Africa, strip out certain one-off items.

The group said it expected further growth in its packaging businesses, helped by a price increases and continued economic recovery.

Mondi declared an interim dividend of 13.23 euro cents per shares, up 39 percent from last year. - Reuters



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