6th Mar 2014 12:31
LONDON (Alliance News) - DS Smith PLC Thursday said its outlook for the rest of the financial year remains positive after continuing to perform well in the third-quarter.
In a statement covering the three months to January 31, the recycled packaging supplier said it expects its performance to be in line with its medium-term targets, driven by growth across the group and synergies from the acquisition of SCA Packaging in July 2012.
Chief Executive Miles Roberts said the year has so far gone according to plan, despite difficult market conditions.
"We are continuing to grow volumes in these competitive markets, as our customers seek to consolidate their supplier base, by offering a complete service from design and production right through to supply and recycling via our closed loop model, delivered across Europe," Roberts said in a statement.
He said the company's recycled corrugated packaging offers enables customers to package products in a cost effective material that provides consistent quality both in their supply chain and the retail environment.
"As such, we continue to see opportunities for growth in this market and are confident in the prospects for the business," Roberts said.
DS Smith shares were Thursday quoted at 349.40 pence, up 0.4%.
By Samuel Agini; [email protected]; @samuelagini
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