DS Smith PLC H1 Adj. Operating Profit Rises; Revenue Up 26% On Constant Currency Basis

DS Smith PLC (SMDS.L) reported first half adjusted operating profit of 418 million pounds, an increase of 51% on a reported basis, and up 49% on a constant currency basis from last year. Adjusted earnings per share from continuing operations was 20.8 pence compared to 13.6 pence.

Profit before income tax increased to 315 million pounds from 175 million pounds, last year. Earnings per share was 16.8 pence compared to 9.8 pence.

Revenue increased by 28% on a reported basis and 26% on a constant currency basis to 4.30 billion pounds for the half year ended 31 October 2022.

The Group now expects fiscal 2023 performance to be ahead of previous expectations with second half being consistent with first half.

The Board announced an interim dividend for this year of 6.0 pence per share, an increase of 25 percent. The dividend will be paid on 31 January 2023 to ordinary shareholders on the register at close of business on 16 December 2022.

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