DS Smith maiden results to be in line with expectations

6th May 2015 08:32

DS Smith said its full-year performance has been in line with expectations thanks to a stronger second-half.The packaging business added that despite economic headwinds in many of its markets, the business enjoyed a return on sales and capital due to an increase in products and services, operational efficiencies and tight working capital management.Furthermore, the company gave an update regarding its recent acquisition of Duropack, which is expected to be complete during the first quarter of the new financial year. The group said it will benefit from Duropack's "excellent" market position in its regions.Chief executive Miles Roberts noted: "We continue to actively manage our business portfolio and the progress we have made with customers during the year, together with the opportunities we see for growth in these markets, gives us confidence in the prospects for the business."Shares in DS Smith were up 0.69% to 350.7p on Wednesday at 08:48.