Mondi PLC sees 2018 profit and revenue beat analyst expectations, but
Mondi’s chief executive officer, Peter Oswald said: Pricing is mixed going into 2019, with recent price reductions in containerboard grades and market pulp and stronger pricing in our kraft paper markets”
() saw its 2018 profit and revenue beat analyst expectations but cautioned that the pricing outlook in 2019 looked mixed.
The FTSE 100-listed paper and packaging group posted a 19% jump in underlying earnings (EBITDA) to €1.76bn, up from €1.48bn a year earlier and above the analyst consensus forecast of €1.73bn.
READ: Mondi expects to report double-digit improvement in its 2018 earnings
The South Africa-based firm reported a 5,.4% rise in group revenue to €7.48bn, from €7.10bn in 2017.
Mondi’s chief executive officer, Peter Oswald commented: “We benefited from good demand across our fibre packaging businesses, higher average selling prices and the contribution from our recent acquisitions.”
However, he added: “Pricing is mixed going into 2019, with recent price reductions in containerboard grades and market pulp and stronger pricing in our kraft paper markets.”
The group is to pay a final dividend of 54.55 euro cent per share, up 27% from the 42.90 euro cents paid in 2017, with the total dividend up 23% to 76.0 euro cents from 62.0 euro cents.
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