Smurfit profit jumps by 33%

Pre-tax profits at Smurfit Kappa Group grew by 33% — on a year-on-year basis — to €295 million, in the first nine months of this year.

The Dublin-headquartered international paper and packaging giant yesterday reported basic earnings per share of 84.9c for the period — which was 59% up on the corresponding period in 2011. Elsewhere, operating profit for the nine months was up by 2%, on a like-for-like basis, at €486m excluding the impact of exceptional items. Group revenue was largely unchanged at just over €5.5bn.

The year-to-date figures were helped by a strong third quarter performance — which significantly beat market estimates. The three months to the end of September saw SKG deliver respective like-for-like increases of 24% and 50% in pre-tax profits and basic earnings per share — to €105m and 33.4c.