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Mondi gets around to issuing a profit warning

Forestry and paper group Mondi has issued a profit warning – but you needed to be a patient reader to spot it in its statement. Nevertheless, underlying performance remains solid.

Garry White

in Features


Paper and forest manager Mondi has revealed that full-year profits will be below expectations, hit by rising costs and negative currency movements. The revelation sent its shares tumbling by more than 8%. Unfortunately, it took more than 1,100 words of the statement before the company revealed that current issues will result in “underlying performance for the year modestly below market expectations”.

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