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Johannesburg - Paper producer Mondi [JSE:MND] on Wednesday
reported flat third-quarter underlying operating profit year-on-year, adding
weak demand remained a concern.
It also expected price increases in it mainstay packaging
paper business to offer support for the rest of the year.
Mondi, also listed in London, said underlying operating
profit for the quarter to end-September totaled €135m euros, in line with the
same period a year earlier.
The company is also focusing on fast-growing businesses such
as consumer packaging and has announced several deals this year to boost its
market position.
Mondi said in July it would buy German packaging firm
Nordenia International from Oaktree Capital to give it a bigger presence in
packaging for items including pet food and chocolate bars.
It said in September it would buy Duropack’s operations in
Germany and the Czech Republic to strengthen its corrugated packaging market
position in Europe.
Mondi also sold its 50% stake in its money-losing UK newsprint business to private equity firm Martland Holdings, it said this month.
