Smurfitt Kappa sees 73% profits fall

Packaging products company Smurfitt Kappa (SKG) has seen pre-tax profits fall by 73% to €39m in the first half of this year, compared with the same period in 2008.

The Smurfit Kappa Group, which has operations in 22 European and Latin American countries, announced plans last month to cut 140 jobs in Co Cork due to the downturn in Irish manufacturing.