Mondi first-half profit slumps 70% as Iran war squeezes margins

Paper and packaging group Mondi reported a 70% decline in first-half underlying pre-tax profit on Thursday as margins were hit by disruptions linked to the Iran war, and booked €320-million ($366.2-million) in charges on its mills. The packaging industry has faced a difficult operating environment over the past year, with weak demand across key segments and higher energy, raw material and shipping costs due to the prolonged Middle East conflict pressured profitability.

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