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Mondi H1 Profit Down

Packaging and paper group Mondi Plc. (MNDI.L) Thursday reported that its profit attributable to the shareholders for the half year slid to 349 million euros from 464 million euros, and earnings per share slipped to 72.0 cents from 95.7 cents last year.

On an underlying basis, profit attributable to the shareholders declined to 354 million euros from 466 million euros, and earnings per share slid to 73.0 pence from 96.2 pence last year.

Underlying EBITDA for the period was down 17 percent to 738 million euros, marked by generally softer pricing and exacerbated by the impact of the COVID-19 pandemic and related lockdown measures.

The Group's revenue for the first half decreased to 3.45 billion euros from 3.77 billion euros, due to lower average selling prices across its key paper grades as well as lower demand for commercial, professional and office printing due to widespread lockdown measures.

In addition, the Group said its Board has declared a dividend of 29.75 euro cents per share relating to 2019 and an interim dividend of 19.00 euro cents per share for 2020.

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