Smurfit Kappa profits rise 20% in first quarter

Packaging group Smurfit Kappa saw its profit jump by 20% in the first quarter of this year, netting the company an extra €30m.

The company’s first-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) were €246m, a 1% increase on last year.

The group’s strong performance was boosted by its Latin American operation. Businesses in that region contributed 23% of the group’s overall EBITDA in the quarter, worth over €56m.