19th Feb 2014 08:02
LONDON (Alliance News) - Mondi PLC and Mondi Ltd (together, Mondi Group) said Wednesday that its underlying operating profit for the full-year is expected to come in above the EUR574 million reported in 2012.
The group said it is currently finalising its results for the full-year to December 31 2013, but that underlying operating profit is expected to be above the EUR574 million recorded in 2012.
As required under listing terms of Johannesburg Stock Exchange, the group has released the statement to comply with the rule stating that companies must declare as soon as they become, "reasonably certain" that the next financial results due will differ by at least 20% on the previous corresponding period.
In November, the international packaging and paper company said it was confident to meet its expectations for the full-year, after reporting a big uptick in its underlying operating profit for the third quarter.
The firm reported group underlying operating profit for the first nine months of 2013 of EUR538 million, above that of the comparable prior year period of EUR410 million.
Despite being confident in its outlook for the remainder of the year, at the time the group warned that the current low-growth environment, coupled with increased competition in certain areas of its business, presented challenges going into the new financial year.
The firm will release its results for the year ended December 31 2013 on February 28 2014.
Shares in Mondi opened down 1.35% at 1,021 pence per share Wednesday.
By Alice Attwood; [email protected]; @AliceAtAlliance
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