DS Smith Trading Update

DS Smith Plc has issued a trading update in respect of the period since 1 November 2016.

CEO, Miles Roberts, says, “The business has performed in line with our expectations, continuing to build on the progress made in the first half of the year with sustained good volume growth. As before, this growth has been particularly strong from e-commerce businesses, which is an area of considerable focus for us. Pan-European customer volumes continue to grow ahead of the Group average rate as customers recognise the benefit of a co-ordinated multi-national solution to their packaging requirements.

“In the first half of the year, we acquired two businesses, Creo (in the UK) and Deku-Pack (in Denmark) for a total of £37 million. Since 1 November 2016 we have continued to invest and acquire businesses in attractive geographies and growth market segments. As previously announced, we have completed the acquisitions of P&I Display and Gopaca in Portugal, expanding our position in the important Iberian market and building on our pan-European point of sale capability. We have also completed the acquisition of Parish Manufacturing, a US manufacturer of flexible plastics packaging.”

He conlcudes, “Our outlook remains positive, despite ongoing challenging economic conditions.”

The full statement can be found here

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