Mondi eyes more cost cuts October 31, 2011 Paper maker Mondi said yesterday it plans more cost cuts as the sector struggles to recover from a slump caused by weak demand and overcapacity, exacerbated by a slowdown in the global economy. Mondi, which also said its third-quarter underlying profit was higher than a year earlier, added that the weak economy was putting moderate [...]
BEST OF THE BROKERS August 31, 2011 MONDI Citi maintains its “buy” rating on the South African London-listed paper producer, but lowers its target price from 770p to 740p to reflect its revised earnings forecasts. The broker reduces its pre-tax earnings expectations by four to 18 per cent for 2011-12, due to the demerger of MPact, share consolidation and lower global growth [...]
Mondi posts progress but warns on costs May 5, 2011 SOUTH African papermaker Mondi yesterday warned rising input costs were putting pressure on its margins as it posted a rise in first-quarter profit, driven by higher prices and sales. Mondi said cost hikes would be more moderate than the 12 per cent rise seen last year. “I would estimate that it would be around a [...]
Mondi to decouple SA unit April 7, 2011 UK-based paper maker Mondi plans to decouple its South African packaging business from the group and list it under a new name on the Johannesburg Stock Exchange, the company announced yesterday. Mondi, which owns 70 per cent of Mondi Packaging South Africa, said the demerger would provide shareholders and both businesses the opportunity for growth.
Taking a punt on FTSE 250 companies April 3, 2011 THERE are tax, leverage and other advantages to using spread betting to get exposure to equities. For some investors, of course, these benefits may not offset the time and skill needed to negotiate the spread betting markets. However, some markets are easier than others to manage, with the FTSE 250 the best place to start. [...]
Mondi expects earnings to rise February 10, 2011 Paper and packaging firm Mondi said underlying operating profit for the year ended 31 December 2010 is expected to be considerably higher than the same time a year earlier. The group, listed in London and Johannesburg, said it expects basic underlying earnings per share for the year to be in the range of 44-49 cents [...]
South Africa’s Mondi swings to a profit in the first half of 2010 August 10, 2010 Paper maker Mondi again raised prices for some products and forecast a strong second half yesterday after better demand and prices helped it return to a half-year profit. South Africa’s Mondi, which is also listed in London, said business picked up across all of its paper grades and its domestic division was also improving. “Mondi [...]
Anglo investors share $1bn return October 27, 2005 The world’s third-largest mining company Anglo American revealed a plan yesterday to return $1bn (£560m) to investors in 2006. CEO Tony Trahar said: “Through a series of measures we are creating a more focused mining group.” As part of the wide-ranging review Anglo is to cut its 51 per cent stake in gold producer AngloGold [...]