DS Smith making progress with Q1 volumes up

17th Sep 2014 07:19

Consumer-goods packaging group DS Smith said that it has made good progress since the start of its financial year with its performance "in line with our plans".The company said the outlook looks positive with volumes continuing to grow despite competitive market conditions.Like-for-like corrugated box volumes since 1 May have grown across all DS Smith's regions, with growth ahead of last year's rate and its target rate of "GDP +1%", it said.Return on sales and the return on average capital employed has also improved, helped by organic growth and ongoing synergies from the £1.3bn SCA Packaging acquisition in 2012."Volume performance has been strong as pan-European customers seek to consolidate their supplier bases and recognise the need for well-designed, recycled packaging at the in-store point of sale, where the buying decision is increasingly being made," said chief executive Miles Roberts."The market remains fragmented, providing ongoing opportunities for growth and we are confident in the prospects for the business," he said.