The company’s sales were $6.4 billion in Q1, more than 10% higher than the $5.8 billion recorded in the first quarter of 2010.

Chairman and chief executive John Faraci said: “First-quarter results reflect continued strong performances across all of our global mill businesses.

“Industrial Packaging and Printing Papers continued to post solid results, and Consumer Packaging delivered significantly higher earnings. Europe continued its strong performances in paper and packaging and the contribution from our Ilim joint venture also increased.

“As a result of these strong across-the-board results, first-quarter free cash flow was in-line with our expectations and we remain confident in our earnings and cash flow outlook for 2011.”

International Paper Q1 2011

Sales $6.4bn (2010: $5.8bn)

Net Earnings $342m (2010: ($162m) 

Operating profits $585m (2010: $561m)