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MND / MNP - Mondi Group: Trading Statement

Release Date: 28/07/2009 08:39
Code(s): MND MNP
Wrap Text

MND / MNP - Mondi Group: Trading Statement Mondi Limited (Incorporated in the Republic of South Africa) (Registration number: 1967/013038/06) JSE share code: MND ISIN: ZAE000097051 Mondi plc (Incorporated in England and Wales) (Registration number: 6209386) JSE share code: MNP ISIN: GB00B1CRLC47 LSE share code: MNDI 28 July 2009 Mondi Group: Trading Statement As part of the dual listed company structure, Mondi Limited and Mondi plc (together `Mondi Group`) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the JSE listings requirements and/or the Disclosure and Transparency and Listing Rules of the United Kingdom Listing Authority. In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding period. Mondi is currently finalising its results for the six months ended 30 June 2009, which will be released on 5 August 2009. As announced in the Interim Management Statement, dated 7 May 2009, the difficult trading conditions experienced in the latter part of 2008 continued into the first quarter of 2009. It was further announced that Group underlying operating profit for the first quarter of 2009 was similar to that of the final quarter of 2008. It can now be confirmed that Group underlying operating profit for the second quarter of 2009 is expected to be similar to that of the first quarter. Results for the six months ended 30 June 2009 have been further impacted by a net special items charge for the period of circa Euro80 million (including impairment charges of around Euro44 million), mainly relating to previously announced restructuring actions taken in response to market conditions. This compares to a net special items charge of Euro39 million in the prior period. Accordingly, Mondi advises that it expects earnings per share to be within the ranges shown below: Underlying earnings per share (euro cents per share) 5 to10 (2008 24.8 Reported) Headline loss/earnings per share (euro cents per share) -3 to 2 (2008 18.3 profit Reported) Basic loss per share (euro cents per share) -10 to -5 (2008 17.1 profit Reported). Mondi has disclosed underlying EPS, which is defined as Basic EPS excluding the impact of special items, as the directors believe this provides a useful additional measure of the Group`s underlying performance. The disclosure of Headline EPS is required under the Listings Requirements of the JSE Limited and has been calculated in accordance with Circular 8/2007 as issued by the South African Institute of Chartered Accountants. The above information has neither been reviewed nor audited by Mondi`s auditors. End Contact details: Mondi Group David Hathorn +27 11 994 5417 Andrew King +27 11 994 5415 Lora Rossler +27 31 4512040 / +27 83 6270292
Financial Dynamics Sophie Kernon +44 20 7269 7225 Louise Brugman +27 11 214 2415 / +27 83 504 1186 Editors` notes: Mondi is an international paper and packaging group and in 2008 had revenues of Euro6.3 billion. Its key operations and interests are in western Europe, emerging Europe, Russia and South Africa. The Group is principally involved in the manufacture of packaging paper and converted packaging products; uncoated fine paper; and speciality products and processes, including coating, release liner and consumer flexibles. Mondi is fully integrated across the paper and packaging process, from the growing of wood and manufacture of pulp and paper (including recycled paper) to the converting of packaging papers into corrugated packaging and industrial bags. Mondi has production operations across 35 countries and had an average of 33,400 employees in 2008. Sponsor: UBS Warburg Date: 28/07/2009 08:39:45 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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