Mondi yesterday said in its interim management statement, from the end of June to end-September, that underlying operating profit was expected to rise 25% despite scheduled maintenance shutdowns during the second half of this year that will cost up to €60m. The global packaging and paper group estimates an underlying operating profit of €172m for the September quarter, from €138m in the comparable period last year. It says this comes about as a result of improved market conditions in packaging paper and also the performance of the South African division.
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