Mondi expects full year profits to beat EUR767m

Paper maker Mondi said it expected full year underlying operating profits to be higher than the €767m (£593.7m) achieved in 2014.

It added that there would be a special item charge of €47m which includes additional restructuring and closure costs and related impairments as well as provision for settlement of a legal case relating to the 2012 acquisition of Nordenia.

Earnings per share (EPS) are expected to come in between 121-126 cents, a rise of 24%-29%, basic EPS 121-126 cents, up 22%-27% and basic underlying EPS 131 - 136, increasing 22%-27%.

Mondi said it has disclosed basic underlying EPS, which is excludes the impact of special items, as it believed this provided a "useful additional measure of the group’s underlying performance".