Increased Margins Driving Strong Growth
In the half year to 31 October 2018, DS Smith has delivered good growth and a 120 bps increase in return on sales. In addition, they have seen continuing excellent performance from Interstate Resources, which is now substantially integrated within DS Smith. They expect to complete the acquisition of Europac in the coming month, for which preparatory integration work is substantially complete. Revenue for the period was £3,073 million (+15%). Adjusted Operating Profit was £304m (+32%) and profit before tax was £162m (+27%).
“We are very pleased with the progress we have made over the last six months. We have strong momentum in the market, delivering good top line growth and substantially increased profit levels. We continue to win market share through our strong FMCG presence and our leadership in both e-commerce and sustainable packaging. DS Smith is extremely well positioned to capitalise on these ongoing growth trends and we are confident about the future prospects for the business,” says Miles Roberts, Group Chief Executive.