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DS Smith Trading In Line With View; Says Confident Of Future; Plans Interim Dividend

DS Smith Plc (SMDS.L), a packaging company, Tuesday said its business has progressed well in the period since May 1, with performance continuing in line with expectations. The improvement was despite the macro-economic challenges that resulted from Covid-19.

In its trading update, accompanying Annual General Meeting, the company noted that like for like corrugated box volume performance has improved over the period since the initial impact of Covid-19. In August, the company recorded a return to positive growth vs August 2019.

FMCG and e-commerce business has demonstrated consistently strong performance.

Further, based on the performance over the last quarter, and improved clarity in the outlook, the company said its Board intends to declare an interim dividend for the half year to October 31.

Miles Roberts, Group Chief Executive, said, "While the macro-economic outlook remains challenging, we are pleased to see volume growth in August and the reduced OCC costs. Our customer focus, strong cost control, cash generation, and liquidity profile, together with continued performance in line with our expectations, gives us confidence for the future."

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