MONDI reported a 25% jump in profit on a 4% decline in revenue for the six months to end-June.Revenue fell 4% to €3.3bn, primarily due to currency effects and disposals completed in 2015. Excluding these effects, revenue grew 1%, the packaging group said on Thursday morning in its interim results statement.An interim dividend of 18.81 euro cents per share was declared, a 31% increase from the matching period’s 14.38 euro cents.Revenue in its South African division fell 8% to €290m, but underlying profit grew 42% to €98m, the segmental breakdown showed."In the South African division, higher domestic wood costs and inflationary increases contributed to higher variable costs in local currency terms, partially offset by higher energy sales. A significantly higher fair value gain on forestry assets reduced the net cost base in SA," CEO David Hathorn said in the results statement.SA is one of Mondi’s five divisions.Its biggest profit generator is packaging paper, which contributed €192m. ...
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