Tuesday January 28, 2020

Smurfit Kappa defiant after 73% plunge in profits

Smurfit Kappa chief executive Gary McGann came out fighting last week after the packaging group reported a 73 per cent plunge in first-half profits.

15th August, 2009

Smurfit Kappa chief executive Gary McGann came out fighting last week after the packaging group reported a 73 per cent plunge in first-half profits.

Revenues for the six months to March came in at €3 billion, down 18 per cent on last year, helping to send the pre-tax profit line down from€145million to €39 million.

McGann, however, preferred to focus on EBITDA (earnings before interest, tax, depreciation and amortisation) line, which held up at 12.1...

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