Smurfit-Stone Container Corporation, which is 30% owned by Jefferson Smurfit Group, has reported net income of $67m for the final quarter of 2000, down from $286m a year earlier, as the US slowdown began to hit demand for its products.
Net income for the year was $224m, up from $157m in 1999, when there was an after-tax gain of $268m from disposals.
Sales in the fourth quarter rose from $2bn to $2.2bn, while sales for the full year were up from $7.4bn to $8.8bn.
President and chief executive officer Ray Curran said the rise in annual profits was due to higher average prices for its paperboard and packaging products, plus a $45m contribution from St Laurent Paperboard in the last quarter.
Mr Curran said these factors offset the impact of higher interest expenses and energy costs.
