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Investors cheer Mondi's 10% profit jump

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Johannesburg - Paper maker Mondi reported a 10% rise in full-year underlying profit on Tuesday on rising packaging paper sales and lower costs, sending its shares to a record high.

Mondi [JSE:MND], which has a secondary listing in London, said underlying operating profit for the year to the end of December, reached €767m from €699m a year earlier.

Its shares rose 2% to R232.50, reaching its highest level ever since the company listed in 2007.

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Rand - Dollar
18.93
-0.1%
Rand - Pound
23.90
-0.0%
Rand - Euro
20.44
+0.1%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.1%
Platinum
906.59
+1.1%
Palladium
1,012.66
+1.1%
Gold
2,221.84
+1.2%
Silver
24.88
+1.0%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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