| Tue 28 Jul 2009, 8:39 | | MND / MNP - Mondi Group: Trading Statement |
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MND MNP
MND MNP
MND / MNP - Mondi Group: 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
LSE share code: MNDI
28 July 2009
Mondi Group: Trading Statement
As part of the dual listed company structure, Mondi Limited and Mondi plc
(together `Mondi Group`) 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 six months ended 30 June 2009,
which will be released on 5 August 2009. As announced in the Interim Management
Statement, dated 7 May 2009, the difficult trading conditions experienced in the
latter part of 2008 continued into the first quarter of 2009. It was further
announced that Group underlying operating profit for the first quarter of 2009
was similar to that of the final quarter of 2008. It can now be confirmed that
Group underlying operating profit for the second quarter of 2009 is expected to
be similar to that of the first quarter.
Results for the six months ended 30 June 2009 have been further impacted by a
net special items charge for the period of circa Euro80 million (including
impairment charges of around Euro44 million), mainly relating to previously
announced restructuring actions taken in response to market conditions. This
compares to a net special items charge of Euro39 million in the prior period.
Accordingly, Mondi advises that it expects earnings per share to be within the
ranges shown below:
Underlying earnings per share (euro cents per share) 5 to10 (2008 24.8 Reported)
Headline loss/earnings per share (euro cents per share) -3 to 2 (2008 18.3
profit Reported)
Basic loss per share (euro cents per share) -10 to -5 (2008 17.1 profit
Reported).
Mondi has disclosed underlying EPS, which is defined as Basic EPS excluding the
impact of special items, as the directors believe this provides a useful
additional measure of the Group`s underlying performance. The disclosure of
Headline EPS is required under the Listings Requirements of the JSE Limited and
has been calculated in accordance with Circular 8/2007 as issued by the South
African Institute of Chartered Accountants.
The above information has neither been reviewed nor audited by Mondi`s auditors.
End
Contact details:
Mondi Group
David Hathorn +27 11 994 5417
Andrew King +27 11 994 5415
Lora Rossler +27 31 4512040 / +27 83 6270292
Financial Dynamics
Sophie Kernon +44 20 7269 7225
Louise Brugman +27 11 214 2415 / +27 83 504 1186
Editors` notes:
Mondi is an international paper and packaging group and in 2008 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, from 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 33,400
employees in 2008.
Sponsor: UBS Warburg
Date: 28/07/2009 08:39:45 Produced by the JSE SENS Department.
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