Monday 20 October 2014

Smurfit Kappa announces higher revenues and profit in first half

Published 30/07/2014 | 07:45

Smurfit Kappa chief executive Gary McGann,
Smurfit Kappa chief executive Gary McGann

PAPER and packaging group Smurfit Kappa has announced a pre-tax profit of €228m for the first half, up 79pc on the same period in 2013.

The company said today that sales were also higher at €3.9bn.

Gary McGann, Smurfit Kappa chief executive, said: “In the second quarter the group has delivered EPS of €0.34, a strong EBITDA result of €295m and continued EBITDA margin expansion. This has been achieved in spite of weaker than expected European containerboard pricing.

"The results reflect the resilience of our earnings profile underpinned by its integrated model together with the benefit of its geographic diversity. The Group’s return on capital employed of 14.3pc validates the continued judicious approach to accretive capital investments and the continuous delivery on its cost take-out targets."

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