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

Which assets will benefit as the “jam tomorrow” bubble pops?
Investment strategy

Which assets will benefit as the “jam tomorrow” bubble pops?

With tech stocks, cryptocurrencies and many other “long duration” investments crashing hard, the “jam tomorrow” bubble looks to be bursting. John Step…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022

Most Popular

Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022
Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Interest rates might rise faster than expected – what does that mean for your money?
Global Economy

Interest rates might rise faster than expected – what does that mean for your money?

The idea that the US Federal Reserve could raise interest rates much earlier than anticipated has upset the markets. John Stepek explains why, and wha…
6 Jan 2022