Smurfit Kappa Gains Hit by Venezuela Turmoil

Smurfit Kappa has swung to an annual loss due to the political chaos in Venezuela.

Revenue for 2018 rose 4% to €8.95bn, while profits climbed 25% to €1.55bn.

However, the company swung to a pre-tax loss of €404m after it incurred €1.27bn in exceptional costs relating to the deconsolidation of Venezuela operations.

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