Mondi’s profits rise 13 per cent

Suzie Neuwirth
PAPER and packaging firm Mondi yesterday unveiled a 13 per cent rise in first-quarter underlying operating profit to €183m (£148.9m), due to growing demand.

But the FTSE 100 company warned that “the trading environment remains mixed” and said planned maintenance shuts would lower full-year operating profit by between €50m and €60m.

Average selling prices in Europe fell over the period, as expected.

Shares closed up 13p, 1.26 per cent, to 1,044p a share.