Mondi Group says the period since year-end December 2017 provided a smooth business environment amid strengthening markets abroad. “Our outlook for the business remains positive. We continue to experience a strong pricing environment in a number of our key product segments, supported by good demand growth,” the company said on Wednesday in a trading update. But it also said it continued to see inflationary cost pressure across the group and currencies were “currently a headwind”. However, its “robust business model” and clear customer focus made it “confident of sustaining our track record of delivering value accretive growth”. The packaging and paper group reported a 15% increase in operating profit for the first quarter of 2018 to €295m. Higher than average selling prices and profit improvement initiatives across the group more than offset higher operating costs, the effect of maintenance shuts and negative currency effects, the group said. Like-for-like sales volumes were stable ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.