Smurfit Kappa H1 results show growth in revenue, profits
Packaging company Smurfit Kappa has reported steady results for the first half of 2014, with H1 revenue of €3.95bn up 1% on the same period last year
The company said underlying growth in both Europe and the Americas increased revenues by 5%, but was partly offset by negative currency movements.
EBITDA for the first half of 2014 increased by €52m to €564m, while operating profit before exceptional items for the half year was €363m, compared to €307m for the same period in 2013, an increase of 18%.
Earnings per share for the half were 62.3 cent, up 94% on H1 2013.
"The results reflect the resilience of SKG’s earnings profile underpinned by its integrated model together with the benefit of its geographic diversity," CEO Gary McGann said.
“The Group’s operations in the Americas are performing well with volume growth expected to improve through the second half of the year.
“The Group’s particular sales approach to international customers in both Europe and the Americas is continuing to make an impact in these markets with customers increasingly seeking a global and environmentally accredited partner for their packaging solutions."
Smurfit Kappa said it was pleased to confirm a 50% increase in the interim dividend to 15.375 cent, "reflecting confidence in its future performance".
