Mondi enjoying a 25 percent increase in H1 underlying profit

According to the paper company, profit rose to R9.8 billion, up from R7.8 billion.

London and Johannesburg Stock Exchange-listed Mondi this week reported a 25 percent rise in half-year underlying profit. Underlying operating profit rose to R9.8 billion in the six-months ending June, up from R7.8 billion, Mondi said in a statement.

The packaging and paper group says it benefitted from higher average selling prices, good demand across its packaging businesses, and profit improvement initiatives across the group. According to Reuters, the group declared an interim dividend of R3.35 per share, up 12 percent.

Pictured: Mondi CFO, Andrew King