Smurfit Kappa pre-tax profit rises to €228m in first half

Packaging group says operations in the Americas performing well with growth expected

Corrugated packaging supply at a Smurfit Kappa plant. The packaging group said revenue increased to €3.95 billion in the first-half of this year.

Corrugated packaging supply at a Smurfit Kappa plant. The packaging group said revenue increased to €3.95 billion in the first-half of this year.

Wed, Jul 30, 2014, 10:05

Smurfit Kappa has reported pre-tax profits of €228 million for the 6 months to the end of June, up 79 per cent on the same period of last year.

The packaging group said revenue increased to €3.95 billion from €3.91 billion in the first-half of last year, with earnings per share climbing to 61.9 cent, compared to 31.8 cent, a year ago.

Earnings before interest, tax, debt, and amortisation (EBITDA) for the first half of 2014 increased by €52 million to €564 million with higher comparable earnings in both Europe and the Americas.

Smurfit Kappa CEO Gary McCann said the group’s operations in the Americas were performing well with volume growth expected to improve through the second half of the year.

“The Group’s particular sales approach to international customers in both Europe and the Americas is continuing to make an impact in these markets with customers increasingly seeking a global and environmentally accredited partner for their packaging solutions,” he added.

The group announced a 50 per cent increase in the interim dividend to 15.375 cent, reflecting confidence in its future performance.

The company has approximately 41,000 employees in 350 production sites across 32 countries and with sales revenue of €7.9 billion in 2013.