15th Feb 2019 07:18
LONDON (Alliance News) - Packaging firm Mondi PLC said on Friday it expects a double-digit improvement in earnings for 2018.
Mondi, listed in both London and Johannesburg, said it expects underlying earnings before interest, tax, depreciation and amortisation to be "above that" generated in 2017, which had been EUR1.48 billion.
Mondi expects to recognise special item net charges after tax of EUR92 million for 2018, up from the EUR53 million booked in 2017. Of the figure for 2018, EUR81 million was recognised in the first half of the year.
The FTSE 100 constituent expects to generate basic underlying earnings per share of between 186 euro cents to 192 cents in 2018, up to 29% higher than the 148.9 cents posted in 2017.
Basic EPS is seen between 167 cents to 173 cents, up to 25% higher than the 137.9 cents last year. Basic headline EPS is forecast between 182 cents to 188 cents, which would be as much as 29% higher than the 145.4 cents achieved in 2017.
Mondi said it expects to release its annual results on February 28.
The stock was 1.8% higher at ZAR349.51 in early dealings in Johannesburg.
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