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DS Smith says Q3 in line as volumes continue to grow

Consumer goods packaging firm DS Smith said that trading in its third quarter was as expected, driven by volume growth and synergies from the acquisition of SCA Packaging in 2012.

Like-for-like corrugated box volumes growth remained ahead of its medium-term financial target of gross domestic product growth plus 1%, with Germany and Central and Eastern Europe particularly strong.

The company said that this volume growth ‘reflects a strengthened customer proposition, driven by innovation and removing complexity and cost from our customers’ supply chain.’

DS Smith said that its outlook remains ‘positive’ with rising volumes and the pass-through of input costs rises ongoing.

Chief Executive Miles Roberts said: ‘The year has continued in line with our plans, despite market conditions remaining difficult.

‘[...] As such, we continue to see opportunities for growth in this market and are confident in the prospects for the business.’

The stock was up 1.7% at 354p by 08:26 on Thursday.

BC

 

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