Advertisement

Full year pre-tax profit falls 19 per cent at Mondi

Profit before tax contracted 19 per cent to 371m euros in the full year ending December 31st at paper and packaging group Mondi, an interim management statement has shown.

Profit before tax contracted 19 per cent to 371m euros in the full year ending December 31st at paper and packaging group Mondi, an interim management statement has shown.

Group revenue rose 1.0% to €5.8bn while underlying operating profit dropped 9.0% to €568m.

Basic earnings per share slid 3.0% to 69.6 cents. The total dividend per share rose 8.0% to 28 cents.

Advertisement - Article continues below

The group return on capital employed contracted to 13.7% from 15%.

In a financial outlook issued by the company, the group reported: "While the first quarter was particularly difficult, characterised by a continuation of the weak order books seen towards the end of 2011, trading picked up as the year progressed.

"Sales volumes recovered into the second quarter and this, in turn, saw some price recovery in certain of the group's major grades going into the second half of the year.

"The third quarter was impacted by the traditional European summer slowdown in trading, but a strong finish to the year, with good volumes and reasonable price levels in Europe, meant the group was able to deliver full year underlying operating profit of €568m, 9.0% down on the very strong prior year result."

MF

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
House price crash: UK property prices are falling – so where next?
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020