Paper and packaging group Mondi Plc (LON:MNDI) has forecast a sharp increase in interim earnings due to lower restructuring and impairment charges.
Underlying profits [EBITDA] for the half year to June will be will above last year’s €852mln but the rise in earnings will much more marked due to the €2mln one-off charge compared to €81mln a year ago.
Mondi says underlying earnings will rise by between 4% and 11% while basic earnings will be between 28% to 37% ahead of this time last year.
The last full yaer results beat expectations but at the time the South African group was slightly cautious about pricing going forward.