March 2, 2018 / 7:27 AM / 5 months ago

Packaging group Mondi announces special payout as annual profit climbs

March 2 (Reuters) - Paper and packaging group Mondi announced a special payout of 100 euro cents per share after full-year underlying profit rose 4 percent, benefiting from solid demand and higher average selling prices in most of its businesses.

Underlying operating profit rose to 1.02 billion euros ($1.25 billion) in 2017, up from 981 million euros a year earlier, Mondi said in a statement.

The group, which is listed in London and Johannesburg, had warned on full-year results in October because of cost pressures and currency headwinds but said on Friday that operational performance improvements had countered inflationary pressures in its cost base. ($1 = 0.8156 euros) (Reporting by Esha Vaish in Bengaluru Editing by David Goodman)

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