Repeat fourth quarter performance for Mondi

14th Feb 2012 07:17

Dual-listed paper and packaging group Mondi said underlying profit for the fourth quarter of 2011 is expected to be on a par with the corresponding quarter of 2010.This follows a third quarter in which underlying profit, at €136m, was well up year-on-year but which was down from the second quarter figure of €175m.For the year as a whole, underlying operating profit is expected to be considerably higher than that of the comparable prior year period.Furthermore, in 2010, the group recognised a net special item charge after tax of €15m, while the equivalent special item charge for the year ended 31st December 2011 is around €53m, mainly related to asset impairment costs in Aylesford Newsprint (€33 million) and restructuring and asset impairment costs in the Bags & Coatings business.Accordingly, Mondi advises that it expects earnings per share (EPS) for the year ended 31 December 2011 to be within the ranges shown below:Basic EPS on a non-IFRS (international financial reporting standards) basis: €0.69 to €0.74 (2010: €0.456) Basic EPS (combined operations): €0.64 to €69 (2010: €0.441) Basic headline earnings per share: €0.67 to €0.72 (2010: €0.47)jh