logo
Plus   Neg
Share
Email

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Macy's is offering a sneak peek of its Black Friday deals for this year, so that shoppers can get a head start on finding some of the best deals. The department store has unveiled its Black Friday deals that will be available next month across categories, including fashion, fine jewelry, tech, beauty, toys and home specials. Some of the deals will be available for as low as $5. Italy's antitrust watchdog has opened an investigation against Google for an alleged abuse of dominant position in the Italian market for display advertising. This refers to the space publishers and website owners make available for the display of advertising content. Shares of Deutsche Bank AG were gaining around 3 percent in German trading after the banking major reported Wednesday a profit in its third quarter, compared to prior year's loss mainly driven by strong Investment Bank revenues. Looking ahead, the bank said it remains on track to meet all financial and strategic targets related to its transformation plan.
Follow RTT