- Packaging company Smurfit Kappa swung to a full-year profit as its revenue inched higher and it recovered from a big writedown on its Venezuelan assets in the previous year.

Pre-tax profit for the year through December amounted to €677m, compared to a loss of €404m on-year, when political turmoil prompted the company to shutter Venezuelan operations.

Revenue rose 1% to €9.05bn and earnings before interest tax, depreciation and amortisation rose 7% to €1.65bn.

Operating profit before exceptional items fell 4% to €1.06bn.

Smurfit Kappa declared a final dividend of 80.9c per share, up 12% on-year.

'From a demand perspective, the year has started well and, while macro and economic risks remain, we expect another year of strong free cash flow and consistent progress against our strategic objectives,' chief executive Tony Smurfit said.

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