6th Aug 2015 06:30
LONDON (Alliance News) - Anglo-South African paper and packaging company Mondi PLC on Thursday posted a rise in pretax profit and revenue for the first half and said all the capital projects it is currently enacting are progressing on track.
The FTSE 100-listed company said its pretax profit in the first half to the end of June rose to EUR392.0 million, up from EUR312.0 million a year earlier, as revenue increased to EUR3.46 billion from EUR3.15 billion. It said it will pay an interim dividend of 14.38 euro cents, up from 13.23 cents.
Mondi said all of its business units posted significant improved results in the half and said its capital projects and acquisitions are all performing in line, as is the restructuring of the bags business it acquired in the US in 2014.
"I am pleased to report another strong performance, building on the good results achieved in the prior year. Improvements in underlying profit in all business units, driven by generally positive selling price and volume developments, coupled with good cost control and the contribution from recently completed capital projects, enabled the Group to deliver an impressive return on capital employed of 19%," said David Hathorn, Mondi's chief executive.
"With our robust business model, clear strategic focus and culture of continuous improvement, management remains confident of continuing to deliver industry leading performance and making good progress for the year," Hathorn added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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