Further Good Progress Expected

The DS Smith Plc first quarter trading statement in respect of the period since May 1st reports that the business continues to progress well despite, as expected, continued macro- economic uncertainty. Expectations for overall financial performance remain unchanged.

Excellent customer engagement and differentiators of scale, service, quality and innovation, have enabled strong pricing discipline. This, combined with ongoing operating cost efficiencies and focus on cashflow generation, together with new business wins in Europe and the US, gives confidence in a resilient business model despite ongoing subdued volumes in some markets, in particular those economies with significant export-led market exposure, including Germany.

Miles Roberts, Group Chief Executive, said, “The underlying drivers of demand for sustainable corrugated packaging remain strong and our leading offerings for highly resilient FMCG and e-commerce customers give us confidence of volume and market share growth. While volatility in the macro-economic environment and input costs remain, our focus on pricing discipline, margin progression, enhanced cost and efficiency improvements and cash generation support our expectation of further good progress in the year.”