Paper and packaging products group Smurfit Kappa has reported operating profits - before exceptional items - of €202m for the three months to the end of September, up 3% on the same time last year.
Revenues for the three month period were flat at just over €2 billion.
Smurfit Kappa said that higher revenues in Europe were more than offset by a reduction in the Americas due to a new exchange rate in Venezuela.
The company said its pre-tax profits jumped by 77% to €165m for the three month period from €93m reported the same time last year.
The company's chief executive Tony Smurfit said the performance reflected improved demand during the year alongside the continued development of its business through investment in its asset base, integration of its acquisitions and the business meeting its cost efficiency objectives.
Mr Smurfit said that based on current operating conditions, the group expects to deliver a full year EBITDA result in line with market expectations.
Smurfit Kappa said its European revenues in the first nine months of the year increased by 2% to 4.7 billion, after a solid performance during the third quarter despite increased global economic uncertainty. It said that continued good demand levels reflected the resilience of its end market corrugated packaging.
The company said that average corrugated prices in the third quarter remained stable, while containerboard price increases implemented in the third quarter are expected to support corrugated price recovery into 2016.
It said the European recycled containerboard market is "fundamentally well balanced", with good demand a constant feature during the year and a limited amount of new supply expected to enter the market until the second half of 2016.
The market for kraftliner in Europe was also well balanced during 2015, the company said, with about 40,000 additional tonnes imported from the US in the year to July offset by good demand.
Smurfit Kappa said its Americas segment continued to see strong volume progression in the third quarter with 18% growth year on year due to acquisitions and broad based organic growth across the region.
The division's EBITDA fell by 2% to €217m due to the negative impact of the adoption of the Simadi rate for the consolidation of the group's Venezuelan operations.
But excluding Venezuela, EBITDA rose by 27% with pricing and cost reduction being successfully implemented to recover high input costs and offset currency headwinds.
Shares in the company were marginally lower in Dublin trade today.
