Fourth-quarter profits improve at Mondi

Paper and packaging group Mondi has set out its earnings guidance for the 2012 full year, saying that its bottom line performance improved in the fourth quarter.

Paper and packaging group Mondi has set out its earnings guidance for the 2012 full year, saying that its bottom line performance improved in the fourth quarter.

Ahead of the company's full-year results announcement on February 21st, the company said that underlying operating profit for the fourth quarter of 2012 is expected to be above the €135m reported in the third quarter and the €132m registered in the fourth quarter of 2011.

However, the full-year 2012 underlying operating profit is still expected to be below the €622m achieved in 2011.

Meanwhile, the company is to take a special item charge of €92m in 2012, well above the €53m realised the year before, mainly due to the previously announced loss on the October disposal of Aylesford Newsprint, as well as restructuring and asset impairment costs in the industrial bags sector of Fibre Packaging.

Mondi expects basic underlying earnings per share (EPS) in 2012 to be between 67 and 71 euro cents, broadly in line with 68.1 cents the year before.

However, basic EPS is expected to fall from 66.1 cents to 48-52 cents.

Shares were down 1.27% at 779p in early trading on Tuesday.

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
China owns a lot more gold than it’s letting on – and here’s why
Gold

China owns a lot more gold than it’s letting on – and here’s why

In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’…
21 Apr 2021
Why investment advice could be about to get a lot cheaper
Investment strategy

Why investment advice could be about to get a lot cheaper

Vanguard, the world’s second-biggest asset manager, is launching its own cut-price financial advice service. It’s something the industry badly needs, …
20 Apr 2021