Mondi sees considerably higher FY profit

10th Feb 2011 07:23

Paper and packaging firm Mondi said underlying operating profit for the year ended 31 December 2010 is expected to be considerably higher than the same time a year earlier. The group, which is listed in London and Johannesburg, said it expects basic underlying earnings per share for the year ended 31 December to be in the range of 44-49 cents compared to 18.7 cents a year before.Mondi also said restructuring costs will be greatly reduced. Special item charges before tax and non-controlling interests in aggregate of €133m, mainly relating to impairments of assets and restructuring and closure costs in 2009 will result in the equivalent special item charge of €22m this year.Full details of this will be provided in its results announcement, Mondi said.