Smurfit Kappa Group announces positive results

Paper-based packaging products manufacturer Smurfit Kappa Group plc today announced results for the three months and 12 months ending December 31, 2007.

The company reported profits of €170m for 2007, compared to a 2006 loss of €143m.

The firm reported at 4% increase in revenues to €7.27bn, up from €6.97bn.

Q4 pre-tax profits are at €64m.

In 2007, SKG increased its corrugated prices by 8.1% on average, due to increasing input costs for SKG’s corrugated operations.

Further corrugated price increases are expected into 2008 to fully recover the October containerboard price increase, with some index related progress already occurring early in the new year.