Advertise with fastmoving.co.za
 
 

Underlying operating profit is also expected to be considerably higher
Underlying operating profit is also expected to be considerably higher

Mondi sees higher earnings

FMCG SUPPLIER NEWS

Fin24 - Jul 22nd 2011, 10:49

Johannesburg - Paper maker Mondi said on Friday it expects its first-half earnings to be higher than those reported a year earlier. 

Mondi, which is also listed in London , expects basic headline earnings per share for first half to end-June to range between 37 and 42 euro cents, compared with 24.8 euro cents a year earlier.

Headline EPS is the key measure of profitability in South Africa and strips out certain one-off and non-trading items.

Mondi, mainly involved in the manufacture of packaging paper, said underlying operating profit was also expected to be considerably higher.

Mondi recently unbundled its South African packaging business to provide shareholders with a clear benefit as both businesses would take better advantage of their respective growth opportunities.

The South African unit listed on the Johannesburg Stock Exchange last week under the name Mpact.

"The results of Mpact will therefore be presented as a discontinued operation in the financial results of the group ... with comparative information restated accordingly," Mondi said in a statement. 

Read more about: earnings | suppliers | packaging | paper | mondi

Related News

Fabric softener brand ordered to change name after Sta-Soft complaint
12/09/2019 - 09:01
A local fabric softener brand has been ordered to change its labelling after the advertising regulatory board found that its use of the word "soft" was imitating rival brand Sta-Soft.

Cashbuild flags tough environment amid rationalisation strategy
03/09/2019 - 12:51
Building materials retailer Cashbuild weathered a tough trading environment to deliver 3% growth in operating profit for the year to end-June, boosted by an extra trading week and the addition of 11 new stores.

Steinhoff revenue up 4% despite ongoing challenges
30/08/2019 - 07:56
International retailer Steinhoff said on Thursday it had continued to grow overall revenue despite the ongoing challenges facing the group, with net sales from continuing operations in the nine-month period to June 30 increasing by four percent to €10.113 billion.

Makro and Game’s owner suffers big loss as shoppers opt for cut-price goods
29/08/2019 - 09:20
Walmart-controlled Massmart, owner of Makro, Game, Builders Warehouse and Dion Wired, has suffered a headline loss of R550 million for the six months to end-June – after earning a profit of more than R200 million in the same period last year.

Distell says rest of Africa offset lower volumes in SA
28/08/2019 - 09:23
Alcoholic drinks company Distell, whose brands include Nederburg wines and Klipdrift brandies, says its rest-of-Africa business made up for lower sales volumes in SA in the year to end-June.