17th Sep 2014 06:54
LONDON (Alliance News) - DS Smith PLC Wednesday said trading since the start of its financial year has been in line with expectations and said growth is slightly outpacing its medium-term outlook.
The company, a supplier of recycled packaging for consumer goods, said it has made good progress since the start of its financial year on May 1, with like-for-like corrugated box volumes improving in all operating regions and growth ahead year-on-year and also ahead of its medium-term targets.
DS Smith said its return on sales and return on capital are continuing to improve, driven by organic growth and synergies from the acquisition of SCA Packaging.
The group said it is confident in its outlook for the full year and expects to continue to perform in line with its medium-term targets.
"Notwithstanding continued headwinds in many of our markets, performance has been in line with our plans. The market remains fragmented, providing ongoing opportunities for growth and we are confident in the prospects for the business," said DS Smith Chief Executive Miles Roberts.
By Sam Unsted; [email protected]; @SamUAtAlliance
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