Smurfit Kappa returns to profit

PAPER and packaging group Smurfit Kappa returned to profitability last year — posting a pre-tax profit of €103 million compared to a pre-tax loss of €52m in 2009.

The Dublin-headquartered group said that progress was made in its European packaging division, which benefited from price increases and rising demand levels.

The group is now expecting its free cash flow generation to be “materially stronger” this year, which should translate into “significant” debt pay-down and enhance its range of available strategic and financial options.