Challenging trading conditions has resulted in a 3% fall in group revenue for global packaging supplier, Mondi. According to its final results for the full year to December 31, group revenue in 2019 reached £7.2bn, down from £7.4bn the year previous. Basic underlying earnings per share dropped 10% in 2019 when compared with the year previous. Mondi Group Chief Executive Officer designate, Andrew King, said he remained confident in the structural growth drivers in the packaging sectors in which the firm operates. 'Heightened macro-economic uncertainties are likely to continue to affect markets in the short term and, while we are seeing indications of stability in pricing in certain segments, we start the year with lower prices across our key paper grades,' he added. 'Input cost relief, our ongoing profit improvement programmes and customer-centric innovation initiatives, and the benefits from our capital expenditure pipeline will continue to support our performance.'
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.