| Fri 25 Jul 2008, 11:05 | | MNP - Mondi Plc - Trading Statement |
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MND/MNP - Mondi Limited/Mondi Plc - Trading Statement
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000097051
Mondi plc
(Incorporated in England and Wales)
(Registration number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
Mondi Group: Trading Statement
As part of the dual listed company structure, Mondi Limited and Mondi plc
(together `Mondi Group`) must notify both the JSE Limited and the London
Stock Exchange of matters required to be disclosed under the JSE Listings
Requirements and/or the Disclosure and Transparency and Listing Rules of
the United Kingdom Listing Authority.
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE
Limited, companies are required to publish a trading statement as soon as
they become reasonably certain that the financial results for the period to
be reported on next will differ by at least 20% from those of the previous
corresponding period.
Mondi is currently finalising its results for the half year ended 30 June
2008 which will be released on 30 July 2008. Whilst underlying and headline
earnings per share have increased for the period, they will not differ by
at least 20% from those of the previous corresponding period. Basic
earnings per share will differ by at least 20% because the first half of
2007 included a Euro48m profit after tax on special items (mainly profit on
disposals) whereas 2008 first half results will include a charge for
special items mainly relating to the previously announced closure of the
Uncoated Fine Paper mill in Hungary.
Accordingly, Mondi advises that it expects basic earnings per share to be
within the ranges shown below:
Basic earnings per share (euro cents per share) 16-19 (2007
proforma 31.9)
As announced in Mondi`s "Interim Management Statement" released on 7 May
2008, since the year end the Group`s underlying operating profit has come
in ahead of the comparable period for the prior year helped by a strong
performance from the Europe & International Division and, in particular,
the Bags & Specialities business unit where good price increases were
secured in kraft paper and the related downstream converting operations.
The above information has neither been reviewed nor audited by Mondi`s
auditors.
Contact details:
Mondi Group
Paul Hollingworth +44 (0) 1932 826 326
About Mondi
Mondi is an international paper and packaging group and in 2007 had
revenues of Euro6.3 billion. Its key operations and interests are in
western Europe, emerging Europe, Russia and South Africa.
The Group is principally involved in the manufacture of packaging paper and
converted packaging products; uncoated fine paper; and speciality products
and processes, including coating, release liner and consumer flexibles.
Mondi is fully integrated across the paper and packaging process, the
growing of wood and manufacture of pulp and paper (including recycled
paper) to the converting of packaging papers into corrugated packaging and
industrial bags.
Mondi has production operations across 35 countries and had an average of
35,000 employees in 2007.
25 July 2008
Sponsor
UBS South Africa (Pty) Ltd
Date: 25/07/2008 11:00:02 Produced by the JSE SENS Department.
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