Accounts: Smurfit Kappa profits hit €41m as sales jump

PACKAGING group Smurfit Kappa reported positive third quarter pre-tax profits of €41m, compared to a €40m loss reported the same time last year.

Sales at the firm for the period rose 12pc to €1.7bn, while the company also reduced its net debt by €168m in the quarter.

Chief executive Gary McGann (right) was also upbeat on the current quarter's trading

"Subject to normal business risk, SKG re-affirms its expectation of EBITDA growth in the region of 20pc for the full year," he said.

The company said that revenues for the three months to the end of September rose by 12pc to €1.7bn from €1.5bn last year.