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Smurfit-Stone has reported a pre-tax profit of $1.2bn after coming out of Chapter 11 bankruptcy protection in the second quarter of the year.
The US corrugated firm posted sales of $1.6bn (£981m) for the three months to 30 June, up 11% on the same period last year.
Smurfit recorded an operating loss of $6m for the period from a $271m profit in 2009.
However, $1.2m in income from the restructuring boosted pre-tax profits to $1.2bn for the period, up from $162m last year.
Chief executive Patrick Moore said the restructuring had positioned the firm for "long-term profitable growth".
"Looking ahead, we are confident that continued high operating rates, productivity improvements, higher average prices and low inventories combined with assumed stable demand will drive significant earnings improvement in the second half of the year," said Moore.
In the second quarter, Smurfit has closed three converting facilities and said productivity at its containerboard mills had improved by 5% per tonne per day.
SMURFIT STONE Q2 RESULTS
($m)
Net sales 1,563 (1,407 in 2009)
Operating loss 6 (271 profit)
Loss before reorganisation and tax 5 (201 profit)
Pre-tax income 1,214 (162)
Net income 1,413 (158)
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