|
Mondi PLC said Monday it continues to monitor the war in Ukraine, and how any potential sanction against Russia could harm its business.
The London and Johannesburg-listed packaging and paper company noted that over 10% of its revenue comes from its operations in Russia.
"Mondi continues to closely monitor the situation in Ukraine, the response of international governments and any potential impact on the group," the company said.
"Mondi has operations in Russia, representing around 12% of the group's revenue by location of production, including a high margin, cost-competitive, integrated pulp, packaging paper and uncoated fine paper mill located in Syktyvkar."
Mondi noted its Russian business primarily serve the domestic market and all are currently operational.
In Ukraine, Mondi has one paper bag plant located in Lviv, in western Ukraine, where production is currently suspended.
Mondi will publish its full-year results this Thursday.
Mondi was trading 11% lower in London on Monday afternoon at 1,586.50 pence each. In Johannesburg, the shares ended 9.6% lower at ZAR327.99.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
