1st Nov 2013 07:45
LONDON (Alliance News) - Supplier of recycled packaging for consumer goods DS Smith PLC. in its trading statement for the half-year to 31 October 2013, said that overall, Group trading has been in line with its expectations, with good performances across all its businesses.
The market and business trends from its Interim Management Statement of 3 September 2013 have continued.
In its Packaging business, the company noted that it has continued to gain further market share due to its differentiated and strong customer proposition and corrugated volume growth remains in excess of its target of GDP+1%.
The firm stated that its overall outlook remains positive. The cost synergies from the acquisition of SCA Packaging are on track and will continue to be delivered progressively through this financial year. The Group expects continued performance in line with the Company's medium term financial targets and views the remainder of the year with confidence.
Miles Roberts, Group Chief Executive, said, "The business has performed well in the first half of the year, in line with our plans. We have continued to gain market share through our focus on service, quality and innovation, as we leverage our enlarged geographic footprint and focus in the FMCG sector. The delivery of synergies from the SCA Packaging acquisition is on target and, while the European market remains challenging, we remain confident of strong progress this year and are excited about the growth opportunities for the Group."
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