First-half profit at packaging group Smurfit Kappa jumps 50%
By Trend
Smurfit Kappa's core profit jumped by 50% year-on-year in the first half of 2022, which it said on Wednesday reflected recent capital investment in its production facilities and price increases for customers, Trend reports with reference to Reuters.
After a year of record profit in 2021, revenue growth of 33% pushed earnings before interest, taxes, depreciation, and amortisation (EBITDA) at Europe's largest paper packaging producer up to 1.2 billion euros ($1.22 billion) in the first half.
Smurfit, whose customers include Procter & Gamble, Unilever and Nestle, increased its interim dividend by 8% to 31.6 euro cents per share.
"In Smurfit Kappa, we are very confident about our future prospects," the Irish group's chief executive Tony Smurfit said in a statement.
"Inevitably, with the current global issues that surround us there are greater uncertainties than we have seen for some time. Nevertheless, we continue to see many opportunities for growth."
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