Mondi profits increase by 25%

Bloomberg are reporting that Mondi’s full-year earnings increased 25% due to higher selling prices and the positive impact of weakening-emerging market currencies against the euro.

Underlying operating profit increased to €957 million in 2015 from €767 million the year before. Mondi increased sales 7% to €6.8 billion.

“It is very pleasing to see the strong contribution from all our business units, driven by generally higher selling prices, volume growth, good cost control and important contributions from recently completed capital projects”, Chief Executive Officer David Hathorn said in the statement. “Our outlook for the business remains positive.”

Mondi now gets more than 75% of its revenue from packaging and is seeking to grow further in the industry. The company is working to expand and modernize some of its facilities.

Mondi now has about €450 million of major projects approved and in development.

Edited from source by Joseph Green. Source: Bloomberg

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