Paper and packaging company Mondi Plc (MNDI.L) Tuesday said its profit before tax for the first half declined to 223 million euros from 300 million euros in the previous year.
Profit attributable to equity holders of the parent companies were 153 million euros, lower than 212 million euros a year ago. On a per share basis, earnings were 31.6 euro cents, compared to 41 euro cents per share in the preceding year.
Underlying earnings per share decreased to 30.8 euro cents from 37.7 euro cents per share a year earlier.
Group revenue declined to 2.84 billion euros from 2.94 billion euros in the same period last year.
The company has also declared an interim dividend for the year ending December 31, 2012 of 8.9 euro cents per share, up 8 percent from last year, to shareholders of record on August 24, 2012, payable on September 18.
Looking ahead, the company said, "The macroeconomic environment remains a concern, with continued soft demand evident in certain western European markets. Encouragingly, demand in a number of the emerging markets to which the Group is exposed remains firm, and positive supply side fundamentals in various of our core grades offer price support. As such, we remain confident of delivering against our expectations for the full year."
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by RTT Staff Writer
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