3rd May 2019 07:39
LONDON (Alliance News) - Irish packaging firm Smurfit Kappa Group PLC reported on Friday a "very strong" start to 2019, with revenue and earnings both rising.
Dublin-based Smurfit posted revenue of EUR2.32 billion for the first three months of 2019, up 7% year-on-year, with earnings before interest, tax, depreciation, and amortisation up 25% to EUR424 million.
"The improved result reflects higher corrugated pricing, demand growth, a relentless focus on cost efficiencies and the benefits of our capital programme," said Smurfit.
In Europe, Smurfit's organic corrugated volume growth was 2% on a year prior, with 2018 a particular strong year. In the Americas, the figure grew 3%, with the three largest countries in the segment, the US, Mexico, and Colombia, all doing well.
Chief Executive Tony Smurfit commented: "The group has had an excellent start to the year building on our established strengths of customer-focused innovation, our integrated operating model, and our ever expanding geographic reach.
"While there is invariably political and economic risk, we confidently expect to deliver another year of progress."
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