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Mondi PLC

Mondi's interim earnings to be well ahead of last year

Basic earnings will be between 28% to 37% ahead of this time a year ago

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Restructuring costs have dropped sharply

Paper and packaging group Mondi Plc (LON:MNDI) 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.

Quick facts: Mondi PLC

Price: £15.37

Market: LSE
Market Cap: £7.46 billion
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