Packaging group Smurfit Kappa posts 33% profit jump

pEuropes largest paper packaging producer said demand remains strong in the second quarter after corrugated box volumes grew 3.6 in the first three months of the year and that it is increasing prices progressively. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe Irish group raised prices by 19 in 2021 and had flagged further increases this year to recover input costs that it said on Friday had risen sharply in practically all areas, with existing supply chain problems exacerbated by the conflict in Ukraine.p

pFridays trading update did not disclose the extent of its price increases in the first quarter.p

p“Our integrated and resilient business model has ensured security of supply in this increasingly complex environment,” Chief Executive Tony Smurfit said in a statement.p

pSmurfit said in February that customers were more concerned about getting their hands on a sufficient amount of packaging than how much they were having to pay for it.