Mondi expects profit above €699m for 2014
Dual-listed Mondi expects its underlying operating profit for the year ended December 31 to be above the €699-million it achieved in 2013, based on the group’s underlying operating profit for the first nine months of 2014 being €551-million.
“This is well above that of the comparable prior year period of €538-million,” the company said in a statement on Tuesday.
Further, in the prior year, the group had a net special item charge after tax of €74-million. The equivalent special item charge for the year ended December, was expected to be around €48-million, of which €16-million was recognised in the first half.
In the second half of the year, additional restructuring and closure costs and related impairments of €37-million were recognised. Other items, giving rise to a net gain of €5-million, were also recognised.
Accordingly, Mondi expected basic earnings a share for the year to be between 96c and 99c, while basic headline earnings a share were estimated at between 98c and 101c, increasing between 7% and 11%.
Basic underlying earnings a share could possibly increase to between 106c and 109c, or from 12% to 15%.
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