DS Smith H1 profit soars 45%

4th Dec 2014 08:57

Packaging company DS Smith's pre-tax profit soared 45% in the first half of 2014, courtesy of strong performances across the board.Pre-tax profit for the six months ended 31 October was £123m, up from £85m in the corresponding period a year ago.The firm, which attributed the growth in profit to lower operating costs and organic growth, saw revenue for the period decline 5% to £1.97bn due to currency headwinds and the disposal of its Scandinavian foam business."Our outlook remains positive as the business continues to grow, despite ongoing economic headwinds in many of our markets," group chief executive Miles Roberts said.The group raised its interim dividend by 16% to 3.7p per share.DS Smith shares rose 6.48% to 307.10p at 09:25 on Thursday.