First-half profit at packaging group Smurfit Kappa jumps 50%

This post was originally published on this site

https://i-invdn-com.investing.com/trkd-images/LYNXMPEI6Q081_L.jpg

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 (NYSE:PG), Unilever (NYSE:UL) 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.”

($1 = 0.9863 euros)