South Africa's Mondi posts 24 % rise in first-half earnings - CNBC Africa

South Africa's Mondi posts 24 % rise in first-half earnings

Southern Africa

by Reuters 0

South Africa's Mondi posts 24 pct rise in first-half earnings. PHOTO: Neusiedler

South African packaging and paper company Mondi posted a 24 percent rise in first-half earnings on Thursday, due to higher selling prices and sales, with some of its projects delivering ahead of plan.

The company, which is also listed in London, said diluted headline earnings per share, the most important gauge in South Africa which strip out certain once-off items, rose to 60 euro cents from 48.2 cents a year earlier.

In previous years [DATA MND:Mondi Limited] struggled with lower prices for its paper products and lower global demand, but kept its head above water through acquisitions, cost cuts and increased prices.

Mondi completed capital projects including a bleached kraft paper machine in the Czech Republic and a pulp dryer in Russia.

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