| Fri 30 Jul 2010, 8:16 | | MND/ MNP - Mondi - Trading Statement |
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MND MNP
MND MNP
MND/ MNP - Mondi - 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
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 half year ended 30 June
2010, which will be released on 10 August 2010. As announced in Mondi`s
Interim Management Statement released on 6 May 2010, results for the first
quarter of 2010 were considerably above the comparable period in the prior
year. It can now be confirmed that Group underlying operating profit for the
first half of 2010 is expected to be considerably higher than that of the
comparable period in the prior year.
Furthermore, in the first half of the prior year, Mondi recognised special
item charges in aggregate of Euro78 million after tax, mainly relating to
assets impairment, restructuring and closure costs. The net special item gain
in the six month period ended 30 June 2010 is approximately Euro5 million
after tax, full details of which will be provided in the half year results
announcement.
Accordingly, Mondi advises that it expects half year earnings per share
(`EPS`) to be within the ranges shown below:
- basic underlying earnings per share (euro cents) 17 to 22 (2009 8.3)
- basic earnings per share (euro cents) 18 to 23 (2009 7.1 loss)
- basic headline earnings per share (euro cents) 22 to 27 (2009 0.8 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 (0)11 994 5418
Andrew King +27 (0)11 994 5415
Lora Rossler +27 (0)11 994 5400 / +27 (0)83 627 0292
Financial Dynamics
Richard Mountain +44 20 7269 7186 / +44 20 7909 684 466
Chloe Webb +27 (0)11 214 2421
Editors` notes:
Mondi is an international paper and packaging company, with production
operations across 31 countries and revenues of Euro5.3 billion in 2009. The
Group`s key operations are located in western and emerging Europe, Russia and
South Africa and employed 31,000 people on average in 2009.
Mondi is fully integrated across the paper and packaging process, from the
growing of wood and the manufacture of pulp and paper (including recycled
paper), to the conversion of packaging papers into corrugated packaging and
industrial bags.
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 has a dual listed company structure, with a primary listing on the JSE
Limited for Mondi Limited under the ticker code MND and a premium listing on
the London Stock Exchange for Mondi plc, under the ticker code MNDI. The Group
has been recognised for its sustainability performance through its inclusion
in the FTSE4Good UK, Europe and Global indices in 2008 and 2009 and the JSE`s
Socially Responsible Investment (SRI) Index in 2007, 2008 and 2009.
30 July 2010
Sponsor: UBS South Africa (Pty) Ltd
Date: 30/07/2010 08:00:06 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
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