Mondi PLC profits higher as paper cycle swings up
Underlying profits of €295mln were 15% above a year ago and 6% higher than the previous three months
Higher selling prices offset rising costs to keep paper group () on track in its latest quarter.
Underlying profits of €295mln were 15% above a year ago and 6% higher than the previous three months.
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Like-for-like volumes were stable on the comparable prior year period. Growth in packaging paper balanced a drop in uncoated fine paper due to the extended maintenance shut in at Richards Bay in South Africa.
Average selling prices were better than both the previous year and last quarter costs, though wood, energy and chemical costs were higher than the comparable prior year period.
The outlook remains good, said Mondi, with the strong pricing set to continue, which will offset higher costs and adverse currencies.
Shares rose to 2% to 2,040p.
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