Mondi expects higher interim earnings after prior period’s impairments

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Packaging and paper group incurred extraordinary expenses of €81m as it restructured its operations

Packaging and paper group Mondi says headline earnings per share in the six months to end-June will increase by 9%-16% compared to the prior period’s 85.1 euro cents.

Earnings before interest, tax, depreciation and amortisation were expected to be higher than the prior period’s €852m, the company said, with basic earnings a share expected to rise by 28%-37% to 93-99 euro cents. Special net item charges after tax had decreased in the period to €2m from €81m in the prior corresponding period, the company said. Special items refer to extraordinary expenses that are not expected to recur.

In the prior period Mondi had restructured a number of its operations, including restructuring costs of €8m and impairment of assets of €47m as it discontinued in-line silicon production at its Steti operation in the Czech Republic. The company incurred restructuring costs of €13m and impairment costs of €5m at its Merebank facility in KwaZulu-Natal.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines