Packaging group Smurfit Kappa says price rises over for now

• Smurfit increased prices by a further 2-3% in Q3
• CEO says price hikes at an end as input costs ease
• FY core profit set to rise by 33% to 2.3 billion euro

Packaging giant Smurfit Kappa does not expect to hike prices any further this year and may be able to unwind some of the recent rapid increases it has pushed onto customers, its chief executive said on Wednesday.

The prices Smurfit charges were 35% to 40% higher than they were two years ago at the end of June and Europe’s largest paper packaging producer said on Wednesday it had increased them by another 2% to 3% in the third quarter.