DS Smith has reported its performance for the first half year to 31st October, 2016. Revenues were £2,357 million, up 21 per cent on the same period last year. In constant currency terms, this equates to seven per cent growth. Profit was reported at £226 million, up 23 per cent on the same period last year, or nine per cent in constant currency terms.
“This half year has been another period of consistent delivery across the whole business. Volumes have grown as our high quality, innovative service has continued to delight our customers, particularly those who require a pan-European approach. This, combined with strong results from businesses acquired last year, the benefit of our global procurement platform, and the continued roll-out of performance packaging, has resulted in another period where we have delivered against all our financial KPIs. The business has continued to demonstrate momentum and has performed well despite the challenging market, which is a demonstration of the strength of our business model. Accordingly, the Board remains confident about the outlook for the business and has increased the dividend by 15 per cent,” said Miles Roberts, Group Chief Executive.