May 12, 2010. /Lesprom Network/. Packaging giant Smurfit Kappa has reported pre-tax losses of Euro 3 million for the three months to the end of March. This compares to pre-tax profits of Euro 20 million the same time last year, as RTE. Business reported. Revenues for the 1Q 2010 rose by 2% to Euro 1.53 billion from Euro 1.5 billion, while earnings before interest, tax and depreciation rose by 2% to Euro 184 million from Euro 180 million. It said that March was a particularly 'solid month' for the group. The company said that significant raw material cost pressure was offset by the pick-up in its corrugated volumes, the continued price recovery in this sector and the benefits of cost cutting measures. It added that its Latin American business experienced strong demand growth in the three month period. Smurfit Kappa said that the 2Q 2010 should see further corrugated price increases, but added that the sustainability of the pricing recovery is dependent on the general economic backdrop. Smurfit Kappa Group is a world leader in paper-based packaging with operations in Europe and Latin America.