Smurfit Kappa Group has announced it has made £1.6 billion (£1.4 billion) net profit for the nine months to 30 September 2023.
For this period, the fibre packaging company revealed that its margin was 19%.
Smurfit Kappa chief executive Tony Smurfit said: “We are pleased to report an excellent performance for the first nine months with net profits of €1,625 million.
“These results continue to demonstrate the effectiveness of our multi-year capital plans, our geographic footprint and the service and dedication of our people.
“Box demand in the third quarter for the group was approximately 2% behind 2022 levels versus a negative 7% and 5% in the first and second quarters respectively. We expect this trend to continue, with Germany in particular showing improved order books.
“Our consistent delivery, over many years, demonstrates the quality of our business and the capital allocation decisions we have made. For the full year 2023 we expect to deliver net profits of approximately €2,050 million.”
