Jefferson Smurfit Group aims to reduce its product price volatility with higher lows and lower highs and said early indications were positive.

A less cyclical product price environment is equally constructive from the standpoint of the industrys customer base, the group said as it issued results for the first six months of 2001.

It gives the customer an element of predictability and certainty which they are entitled to expect.

The groups 5% growth in turnover was a creditable performance given the global economic climate. Turnover hit 1.46bn (E2.326) but pre-tax profits were static at 110m.

The group recorded a 5% increase in European sales to 979m with a 44% jump in pre-tax profit to 93.4m.

Smurfit said producers on both sides of the Atlantic were now basing production decisions on demand for products today, not tomorrow.