Smurfit pre-tax profits rise 11%

Packaging giant Smurfit Kappa has reported an 11 per cent increase in 2012 pre-tax profits to €331 million.

The company, which is one of the world's largest integrated manufacturers of paper-based packaging products, today posted results for the year months ending December 31.

Shares in the group, which designs and manufactures paper-based packaging for the likes of Unilever and Procter & Gamble, were up 2.5 percent at €10.30 by 09.08 GMT, not far short of a five-year high of  €10.64 set last week.

The company reported pre-tax profits of €299 million in 2011.

Smurfit Kappa revenues were flat amounting to €7.3 billion.

Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 13.9 per cent last year. The group reported Q4 Ebitda of €240 million.

The company declared a final dividend of 20.5 cent for the year, an increase of 37 per cent on the 15 cent dividend in 2011.