Smurfit Kappa profits jump 81%

Paper and packaging giant Smurfit Kappa Group has reported an 81% annualised increase in first-quarter profits, with earnings considerably boosted by a strong underlying performance from its operations in the Americas.

The group’s results for the first three months of 2014 showed a 2% year-on-year rise in revenue, to just over €1.93bn and a 12% increase in EBITDA (before exceptional items) to €269m.

Operating profit before exceptional items are taken into account amounted to €169m, representing an annualised increase of 21%.