Smurfit Kappa reports strong results
11/11/2009 - 08:17:33Packaging firm Smurfit Kappa has reported third-quarter EBITDA of €192m, 12% ahead of forecasts of €160m to €177m.
The key factor in the higher figure was stronger than expected results in the packaging businesses in both Europe and Latin America.
The firm's formal cost take-out programme delivered a further €40m in Q3 (€140m year-to-date).
As a result, the target for savings for the period 2008-10 is now €260m.
Net debt was reduced by €130m in the quarter to €3bn, wella head of forecasts.
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