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S.Africa's Mondi FY profit up 10 pct on rising packaging paper sales

Reuters - UK Focus

JOHANNESBURG, Feb 24 (Reuters) - South African paper maker Mondi (LSE: MNDI.L - news) reported a 10 percent rise in full-year underlying profit on Tuesday after increasing packaging paper sales and lowering costs.

Mondi, which is also listed in London, said underlying operating profit for the year to end-December reached 767 million euros ($868.93 million) from 699 million euros a year earlier.

($1 = 0.8827 euros) (Reporting by Zandi Shabalala; Editing by James Macharia)