Smurfit bounces back

Smurfit bounces back

Smurfit Kappa (SKG) just gave its clearest indication on why it chose to resist International Paper’s recent takeover advances. Underlying revenue growth of 8 per cent fed through to a consensus-beating 27 per cent rise in adjusted cash profits to €724m (£644m) in the first half of 2018, thanks to a combination of favourable industry dynamics, pricing recovery initiatives and the paper packaging group’s capital investment programme.

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