| Tue 16 Feb 2010, 9:12 | | MND / MNP - Mondi Limited / Mondi Plc - Mondi Grou |
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MND MNP
MND MNP
MND / MNP - Mondi Limited / Mondi Plc - 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
16 February 2010
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 year ended 31
December 2009, which will be released on 23 February 2010. It can now
be confirmed that Group underlying operating profit for the second half
of 2009 is expected to be above that of the first half but below that
of the comparable period in 2008.
Furthermore, results for the year ended 31 December 2009 have been
impacted by a net special items charge for the period of circa Euro128
million (2008: Euro383 million), primarily relating to the early
actions taken to restructure the Group in response to prevailing market
conditions. Euro78 million of this charge was taken in the first half
with a further circa Euro50 million taken in the second half mainly
related to a goodwill impairment in Europapier, asset impairment costs
in Austria and Germany and restructuring costs associated with the
mothballing of the paper machine at the Merebank mill in South Africa.
Accordingly, Mondi advises that it expects full year earnings per share
(`EPS`) to be within the ranges shown below:
Basic underlying earnings per share (euro cents per share) 16 to 20
(2008 33.9)
Basic headline earnings per share (euro cents per share) 9 to13 (2008
20.3)
Basic loss per share (euro cents per share) -4 to -8 (2008 41.6 loss).
Mondi has disclosed basic 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 basic headline EPS is required under the
Listings Requirements of the JSE Limited and has been calculated in
accordance with Circular 3/2009 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 5418
Andrew King +27 11 994 5415
Kerry Crandon +27 11 994 5425
Financial Dynamics
Sophie Kernon +44 20 7269 7225
Chloe Webb +27 11 214 2421
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 uncoated fine
paper (UFP), packaging paper and converted packaging products as well
as speciality products.
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 South Africa (Pty) Ltd
Date: 16/02/2010 09:00:04 Produced by the JSE SENS Department.
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