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Smurfit Kappa profits soar by 58%
10 Feb 2016 19:07
Paper and packaging group Smurfit Kappa has reported a 58% jump in pre-tax profits for the year to the end of December and it said it expects to deliver good earnings growth in 2016.
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Its shares rose sharply in Dublin trade today and closed up over 12%.
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Smurfit Kappa's pre-tax profits rose to €599m from €378m while its annual revenues were flat at €8.109 billion.
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The company said it was increasing its final dividend by 20% to 48 cent per share.
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Combined with the interim dividend of 20 cent per share, this will bring the total dividend to 68 cent, up 23% on the previous year.
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During the year, the company invested over €380m in acquisitions to strengthen and diversify its geographic reach and drive earnings.
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"Having established a strong platform for growth over the past few years, we expect to deliver good earnings growth in 2016," commented the company's chief executive Tony Smurfit.
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