Consumer goods moving fast at DS Smith

7th Sep 2010 07:44

Office products wholesaler DS Smith has been trading in line with expectations in its new financial year with volume growth seen throughout the group. Reporting on trading since 1 May, the first quarter of the company's financial year, the company said volume growth has been led by its Fast Moving Consumer Goods section.In the Packaging division, the paper and corrugated packaging businesses have had a good first quarter with positive demand trends, in Europe and the UK, feeding through to increased volumes.The anticipated phased recovery of paper price increases has led to profits in line with expectations. Plastics have also had an encouraging start to the year with good volume growth and cost control.In the Office Products Wholesaling division the Spicers business is trading ahead of last year, thanks to a better product mix.It looks like the end of the line for the company's final salary scheme, however. The company has started consultation with the remaining active employee members of the UK defined benefit pension scheme with a view to closing the scheme to future accrual.