Smurfit Kappa profits grow by 31%
Smurfit Kappa has recorded a 31% increase in pre-tax profits for the first quarter of the year. Shares in the paper and packaging company jumped more than 3% in early trading yesterday.
The Dublin-based business switched its main share listing to London last month while keeping its Dublin presence as a secondary listing.
The move was instigated to expand its investor base and gain access to the Ftse index.
In London, yesterday, Smurfit Kappa’s shares rose over 3% before paring back to close ahead 1.6% at just over £18.50 (€23.40), while in Dublin they were ahead by 2.78% at €23.69.
That movement came on the back of a strong set of first-quarter figures showing a 31% year-on-year rise in pre-tax profit to €128m and a 2% rise in revenue to just over €2bn.
Smurfit Kappa spent over €380m on acquisitions last year – this year it will focus on integrating these businesses while the group retains the capacity to invest in further acquisitions.
