Mondi PLC’s interim earnings to be well ahead of last year

Paper and packaging group () has forecast a sharp increase in interim earnings due to lower restructuring and impairment  charges.

Underlying profits [EBITDA] for the half year to June will be will above last year’s €852mln but the rise in earnings will much more marked due to the €2mln one-off charge compared to €81mln a year ago.

Mondi says underlying earnings will rise by between 4% and 11% while basic earnings will be between 28% to 37% ahead of this time last year.

The last full yaer results beat expectations but at the time the South African group was slightly cautious about pricing going forward.