DS Smith confirms numbers in-line

30th Apr 2014 10:37

Packaging group DS Smith has confirmed growth continued across the businesses since its last update, helped by synergies from the acquisition of SCA Packaging. A short pre-close update from the company, almost a word-for-word reproduction of third-quarter results in early March, said market and business trends on the same line.Like-for-like corrugated box volume growth remained "good" and ahead of the group's medium term financial target of GDP-plus-1%, with Germany and Central and Eastern Europe continuing to be particularly strong. Return on sales and return on average capital employed continued to improve as the benefit of the combined Smith and SCA businesses flow through.The outlook "remains positive" and management expects continued performance in line with the company's medium term financial targets.Chief Executive Miles Roberts said he was pleased with the performance of the business in the year, despite market conditions remaining difficult."We continue to see opportunities for growth in this market and are confident in the prospects for the business."Shares in the company were up 0.25% to 314.7p on Thursday. OH