Briefs
Mondi: Q3 underlying profit down 10% from Q2
Mondi said on Thursday third-quarter operating profit fell 10 percent from the previous quarter to 174 million euros ($223 million), as part of a seasonal swing in European demand.
JOHANNESBURG (Reuters) – South African paper maker Mondi said on Thursday third-quarter operating profit fell 10 percent from the previous quarter to 174 million euros ($223 million), as part of a seasonal swing in European demand.
Mondi's share price on the day
"The business continued to benefit from its investments in energy related capital expenditure and lower European natural gas prices," Hathorn said.
The company has been struggling with lower prices for its paper products and lower global demand but has kept its head above water through acquisitions and increasing prices.
Hathorn said higher prices for its packaging paper will also help lift profits in the fourth quarter.
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