Mondi shares jump after better than expected interim results
Mondi’s shares jumped 7% on Friday after its interim results beat expectations. Along with Investec, Mondi has Ltd and Plc shares trading on the JSE to meet historical requirements for JSE-listed companies to trade on the London Stock Exchange. Mondi Plc shares gained 7.43% to R387.13 and Mondi Ltd shares rose 7% to R387.35 after it announced it was raising its interim dividend by 12.3% to 21.45 euro cents per share. The paper and packaging group’s interim revenue grew 4% to €3.72bn in the six months to end-June courtesy of higher average selling prices and volume growth in containerboard and industrial bags, the company said in its results statement. Its underlying profit jumped 25% to €630m from €503m in the matching period. "We saw a strong operational performance across the pulp and paper businesses, with the exception of the extended shut at our Richards Bay mill," Mondi CEO Peter Oswald said in the results statement. "In the first half of 2018, we completed a longer than antic...
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