Mondi Plc. (MNDI.L), a paper and packaging company, Thursday said full year profit before tax declined 19 percent to 371 million euros from 457 million euros in the prior year. Excluding items, pre-tax profit was 462 million euros, compared to 512 million euros last year.
Profit attributable to equityholders of the parent dropped to 244 million euros from 330 million euros in the prior year. Earnings per share were 50.3 euro cents as compared to 65.3 euros cents last year.
Annual revenue rose 1 percent to 5.807 billion euros from 5.739 billion euros in the prior year.
The directors recommended a final dividend of 19.1 euro cents per share, bringing the total dividend to 28.0 euro cents per share for the year, an increase of 8 percent.
Looking ahead, the company said its board remains confident of making progress in the year ahead.
Fundamentals for Mondi's core segments remain sound, although recently announced capacity additions by some manufacturers in selected paper grades are a concern, amid the demand softness in Europe, the company noted.
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