29th Apr 2021 09:16
(Alliance News) - Packaging firm DS Smith PLC on Thursday said its annual performance will be in line with expectations and the packaging firm noted it has benefitted from a shift towards online e-commerce.
DS Smith noted that in its second half, sales volumes, price recoveries and its US performance were better than expected.
"Whilst input costs have increased materially in the second half, our financial performance for the full year ended 30 April 2021 is anticipated to be line with our expectations," the company added.
The company added that it is investing in box plants in Italy and Poland and boosting capacity in Germany.
Chief Executive Miles Roberts said: "I am pleased to report continued positive momentum across the business. I am particularly proud that throughout the challenges of the pandemic, our colleagues have responded magnificently, keeping all of our operations open and maintaining the highest standards in service and quality for our customers.
"As a purely fibre-based business we are benefiting from accelerating consumer trends in online shopping and the drive for a more environmentally conscious life. Environmental sustainability is at the heart of our strategy and we are excited at the significant opportunities this presents for our packaging solutions."
DS Smith reports on its annual results on June 22.
Shares in the company were 1.6% higher at 420.40 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
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