logo
Plus   Neg
Share
Email

DS SMITH FY Profit Rises; Revenue Up 21% - Quick Facts

Smith (DS) PLC (SMDS.L) reported that its profit before tax for the year ended 30 April 2018 was higher at 292 million pounds compared to 264 million pounds, prior year, due to flow through of higher operating profit and improved share of results of associates, partially offset by higher finance costs. Earnings per share was 24.8 pence compared to 22.0 pence.

Fiscal year adjusted operating profit increased by 16 percent on a constant currency basis (20 percent on a reported basis) to 530 million pounds from 443 million pounds, last year. The Group said this was driven by the significant contribution from volume growth, contributing 13 percent growth (59 million pounds) compared to the prior year, and from the contribution of businesses acquired, in particular the north America assets. Adjusted profit before tax of 473 million pounds compared to 391 million pounds, last year, was higher due to the growth in adjusted operating profit. Adjusted earnings per share was 35.3 pence compared to 32.3 pence.

Fiscal year Group revenue increased to 5.76 billion pounds from 4.78 billion pounds, a growth of 21 percent on a reported basis, reflecting volume and sales price growth, the impact of acquisitions and a positive currency translation effect. On a constant currency basis, revenue increased by 17 percent, including organic growth of 401 million pounds.

For the year 2017/18, in accordance with dividend policy, the Board recommended a final dividend of 9.8 pence per share, which will be paid to all shares on the record date, including those to be issued in the rights issue. The 2017/18 interim dividend of 4.9 pence, and prior dividends, will be restated in future accounts to reflect the bonus factor adjustment resulting from the rights issue.

The Group said its current year has started well, with the volume growth momentum seen in 2017/18 continuing into the new financial year and the ongoing recovery of the paper price rises announced earlier this calendar year progressing as expected.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Follow RTT