Millennium Online Solutions Ltd (MILL)

Mill online earnings

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    Yesterday, the JSE-listed group said underlying earnings before interest, tax, depreciation and amortisation Ebitda were down by 18percent to million R6. Third quarter Ebitda was also down compared to the second quarter earnings of m. The group's like-for-like sales volumes were, on average, marginally lower than the comparable prior year period as a result of lower industrial bags and uncoated fine paper volumes.

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    It said this was partly offset by growth in corrugated packaging. In the fibre packaging division, it said container boards showed signs of stabilising during the quarter, following the sharp price erosion seen in the first half of the year.

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    Mondi completed the sale of a specialised extrusion coated products plant in Duffel, Belgium, at the end of September. In the consumer packaging division, the group said it made steady progress, benefiting from product innovation and continuous improvement initiatives during the quarter.

    In the uncoated fine paper division, it saw lower average uncoated fine paper during the quarter, significantly lower pulp selling prices and, as anticipated, a materially lower forestry fair value gain.

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    Looking ahead to the fourth quarter, mill online earnings group said prices were on average marginally below those of the third quarter. Mondi shares closed 1.