Smurfit Kappa Group has reported net sales of €1.751 billion for the third quarter of 2006, up 68% on the same time last year. Smurfit Kappa was formed with the merger of paper and packaging groups Jefferson Smurfit and Kappa in December 2005.
Net losses were just under €2.5m, sharply lower than the €9.4m loss in the same period a year earlier. But this year's figure was affected by €23.9m of restructuring costs linked to the merger.
Underlying earnings (EBITDA) were up 55% at €170m, though the company said the figures were not truly comparable with last year due to the merger.
CEO Gary McGann said the improved performance was due to better conditions in Europe and continued strength in its Latin American operations. He added that growth in demand and reductions in capacity were helping to improve overall conditions in the industry.
