DS Smith has released its figures for the first half of 2022/23. Sales reached £4,299m, up 28% on the same period last year. Profit before tax was £315m, up 80% on the same period last year.
Miles Roberts, Group Chief Executive, commented, “The performance during this six month period has been strong, benefiting from our constant focus on our customers’ evolving needs during this time of significant economic volatility. This has enabled us to achieve continued market share gains, an increase in profitability and improvements in our key financial performance ratios. We are particularly pleased with the performance of the Southern Europe region that continues to deliver major benefits from the acquisition of Europac in 2019. The macro-economic outlook for the rest of the financial year remains challenging. However, we have an excellent customer base, efficient high quality assets, dedicated colleagues and a strong balance sheet allowing continued organic investment to support our customers. These benefits, combined with current momentum in the business, mean we now expect FY23 performance to be ahead of previous expectations with H2 being consistent with H1.”
The full report can be found here.