3rd Sep 2013 06:13
LONDON (Alliance News) - DS Smith Plc. (SMDS.L), in its Interim Management Statement for the three month period to 31 July 2013, said that the current year has started well and in line with its plans, driven by a good performance throughout the Group and the continued strong delivery of the previously announced synergies from the acquisition of SCA Packaging.
The company noted that its Packaging business has performed as expected, despite the European markets remaining challenging.
There has been no significant change in the company's financial position during the period, DS Smith said.
The company noted that its overall outlook remains positive, as it continues to grow its business and deliver the synergies from the SCA Packaging acquisition, although as previously indicated there is the expected short term impact ahead of the pass through of input cost increases.
The Group expects continued performance in line with the company's medium term financial targets and views the remainder of the year with confidence.
Whilst the European market backdrop remains challenging, the company said it is on track to make further significant progress this year and are excited about the growth opportunities for the Group.
Copyright RTT News/dpa-AFX
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