Paper and packaging giant Smurfit Kappa recorded a 6% increase in revenues for the six months to the end of June while operating profits - before exceptional items - inched 1% higher.
Half yearly revenues rose to €3.9 billion from €3.68 billion while operating profits, before exceptional items, rose by 1% to €307m from €303m.
The company said that it saw strong growth in the Americas both as a result of acquisitions and on an improved performance in Venezuela since the devaluation of the country's currency in the first quarter of 2013.
But profits before income tax dropped by 31% to €127m from €184m in what the company called a ''current challenging operation environment''.
Smurfit Kappa said it would pay an interim dividend of 10.25 cent, up 37% on the same time last year.
''This improved dividend represents the group's commitment to provide shareholders with certainty of value and reflects the confidence of the board in the group's performance and prospects,'' commented the company's chief executive Gary McGann.
He said the company's ''strong result'' was achieved through improving pricing, continued cost reductions and enhanced efficiency programmes.
''In spite of the recessionary conditions in Europe, the group delivered like-for-like box volume growth in Europe of over 2% year on year and 5% volume growth in the Americas,'' he added.
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The company said in its results statement today that rising input costs and improving circumstances in the European paper industry, including low inventory levels, solid export markets and relatively high operating rates support higher recycled containerboard prices.
To this end, the group has announced a price increase of €50 per tonne from August 1. ''With this move towards more economically sustainable recycled paper pricing, the group will recover the increased costs in its corrugated pricing with the usual three to six month lag,'' Smurfit Kappa said.
This in turn will support continued performance and growth into next year, the company added.
