Mondi CFO sells 30,000 shares

The Chief Financial Officer of Mondi, Andrew King, has sold 30,000 shares in the in the packaging and paper company. King, who was appointed in 2008, bought the shares at 881.35p a go, costing a total of £264,405. The sale was announced once week after the company said profits in the first quarter rose on the previous year, driven by improved market conditions in its packaging paper and South African businesses. The group reported an underlying operating profit of €162m for the first three months of the year, a 35% increase on the previous year's €120m. During the period, the company was bolstered by recent acquisitions including packaging firm Nordenia and corrugated packaging plants in Germany and the Czech Republic. Sales volumes were, on average, above the previous quarter, while average benchmark selling prices in the European businesses were largely unchanged. Top Director BuysTrinity Exploration & Production (TRIN) Director name: Mr Jonathan MurphyAmount purchased: 100,000 @ 108.00p Value: £108,000Ideagen (IDEA) Director name: Mr David HornsbyAmount purchased: 100,000 @ 21.35p Value: £21,350Xaar (XAR) Director name: Mr Ted WiggansAmount purchased: 2,000 @ 527.00p Value: £10,540Top Director SellsMondi (MNDI) Director name: Mr Andrew KingAmount sold: 30,000 @ 881.35p Value: £264,405Smiths News (NWS) Director name: Mr Jonathan BuntingAmount sold: 25,174 @ 183.10p Value: £46,094NR