DS Smith – full year results

DS Smith has published the results of the full year, 2016/17. Turnover grew 18 per cent compared to the year earlier, to £4,781 million. Adjusted operating profit was reported to be £443 million, up 17 per cent on the previous year.

Miles Roberts, Group Chief Executive, commented, “We are delighted to report another year of good growth for DS Smith, delivered through a combination of acquisitions and organic development. We have expanded our customer offering during the year both geographically and through our continuous focus on innovative solutions for our customers and delivered against all our medium-term financial targets. This progress has continued into the new financial year. Full recovery of the recent paper price rises is progressing well and as expected.”

He continued, “The announcement of our intended acquisition of Interstate Resources Inc. in the US offers a very exciting opportunity for us to grow and support our customers’ needs over a wider geographic area.”

He concluded, “Although economic conditions remain uncertain, our innovation-led offering, the scale of our operations, and the momentum in the business gives us confidence in further growth and sustainable returns in the years ahead.”

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