Mondi Says It Will Post `Considerably Higher' First-Half Operating Profits

Mondi Ltd., Europe’s largest maker of office paper, said it expects to report “considerably higher” operating profit for the year’s first six months.

Basic underlying earnings will be in the range of 17 euro cents to 22 cents per share, compared with 8.3 cents a year earlier, the Johannesburg-based company said today in a statement. That excludes “special items,” Mondi said.

The first half’s results will include a non-operating, one- time gain of 5 million euros ($6.5 million), while the year- earlier period included 78 million euros of charges related to asset impairments, reorganization and costs associated with mill closures, Mondi said.

The company plans to report earnings on Aug. 10, it said.

To contact the reporter on this story: Nicky Smith in Johannesburg at nsmith38@bloomberg.net

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