Smurfit Kappa's (SKG.I) 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.
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. Advertisement · Scroll to continue
Smurfit, whose customers include Procter & Gamble (PG.N), Unilever (ULVR.L) and Nestle (NESN.S), 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."
