Packaging firm Mondi posted 11% year-on-year growth in underlying EBITDA, to €1.5 billion, in its 2021 financial year, driven by higher sales volumes and selling prices amid inflationary cost pressures. Group revenue grew by 16% year on year, to €7.7 billion, while underlying operating profit amounted to €1.1 billion – up by 15%, year on year. Andrew King, Mondi group chief executive officer, said, “Our vertical integration, the agility of our operations, and collaboration with our customers ensured we met surging demand at a time when supply chains were under pressure around the world.”
Coffee traders are seeking advance payment in any new deal to sell beans to Russia, as Western sanctions hit the financial system of the world’s sixth-largest importer. Traders in Brazil – the world’s largest exporter and the number-one supplier to Russia – have said that they have added the country to a list of risky and sanctioned destinations that require prepayment, including Syria, Lebanon and Iran. Three European-based coffee traders at a major commodities-trading house told Reuters that they would not take on any new supply orders with Russian roasters, adding that business has, in any case, slowed, as the Russian rouble has plunged.
French consumers are likely to face a 3% increase in the price of food products from the next quarter onwards. With this in mind, Kantar surveyed 13,000 households to uncover what the current inflationary environment is likely to mean for their shopping habits, and whether any parallels can be drawn with the financial crisis of 2008. As the research firm discovered, shoppers are planning to choose practical solutions where possible, with 46% saying that they plan to reduce food waste – buying products close to their shelf life, availing of ‘anti-waste’ offers, and bringing home a ‘doggy bag’ from restaurants. Some 44% plan to cook more from home – a revival of the lockdown trend of two years ago.