August 3, 2018 / 6:26 AM / 4 months ago

Packaging group Mondi reports 25 pct rise in H1 underlying profit

JOHANNESBURG, Aug 3 (Reuters) - Packaging and paper group Mondi, reported a 25 percent increase in half-year underlying profit, benefiting from higher average selling prices, good demand across its packaging businesses and profit improvement initiatives across the group.

Underlying operating profit rose to 630 million euros ($729.98 million) in the six-months ended June, up from 503 million euros earlier, Mondi said in a statement on Friday.

The group, which is listed in London and Johannesburg, declared an interim dividend of 21.45 euro cents per share, up 12 percent.

$1 = 0.8630 euros Reporting by Nqobile Dludla. Editing by Jane Merriman

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