DS Smith delivers in line half-year performance

1st Nov 2013 07:15

- On track half-year- Further market share gained in Packaging- Positive outlookDS Smith, which supplies recycled packaging for consumer goods, said trading for the half year to October 31st had been in line with expectations, with good performances seen across all its businesses. The group also said that it felt positive in its outlook, and expects to meet its medium-term targets. Within the Packaging business, the company continued to gain further market share due to its differentiated and strong customer proposition. As well, corrugated volume growth remains in excess of its GDP+1% target. It said there had been the "usual lag" it the recovering of input cost increases.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."NR