More Mondi cuts, but Q3 profit is up

Mondi, which also said its third-quarter underlying profit was higher than a year earlier, added that the weak economy was putting moderate pricing pressure on some of its products.

Reuters quotes Lars Kjellberg, a paper industry analyst at Credit Suisse in London: "It's obviously a tough environment and I think (Mondi's) management is very clear about what is going on in the business and they are well prepared." Mondi's rivals Sappi , UPM-Kymmene's and Stora Enso have also warned demand would slow more in the struggling paper sector.

For more:

• Reuters: UPDATE 2-Mondi eyes more cost cuts, Q3 profit up

• Mondi: Mondi Group: Interim Management Statement 31 October 2011