Mondi expects big improvement in half-year results

Paper and pulp producer Mondi expects to report considerably higher interim earnings, saying that its headline earnings a share for the six months ended June 30, 2010, were likely to be between 22c a share and 27c a share, compared with a 0,8c a share headline loss the year before.

Basic earnings a share were expected to be between 18c and 23c a share, compared with an earnings loss of 7,1c a share for the six months ended June 2009.

The producer highlighted that it had recorded a €5-million special item gain during the first half of this year, as opposed to the €78-million special item charge incurred during the first half of last year.

The group would release its interim results on August 10.