The Office Times

Mondi increases profits

Paper and packaging company Mondir reported an 11 miilion euro increase in operating profit to 377 million euros for the six months through June, compared with 366 million euros a year ago, despite a drop in sales from 3.34 billion euros to 3.15 billion euros.

Mondi reported a solid performance from its Packaging Paper, Fibre Packaging and South African division offset in part by weaker results from its Uncoated Fine Paper and Consumer Packaging divisions.

“Strong cost management and contributions from successfully completed strategic capital investments, together with the benefits from downstream integration in key packaging segments, enabled the group to offset the impact of lower prices in a number of paper grades,” Chief Executive Officer David Hathorn said in the statement.