DS Smith H1 pretax profit up 52% to £85m
"We are encouraged by the strong results announced today and the continued delivery of our strategy from our sustainable business model," said CEO Miles Robert in a statement.
"The good volume growth reflects market share gains from a strengthened customer proposition, driven by innovation and removing complexity and cost from our customers' supply chain," he added.
As the company's share price and volumes have grown, DS Smith had also improved its EBITA margin, despite the headwind due to recent input cost increases which were being recovered, as expected, with the usual lag.
"We are, therefore, pleased with Group trading in the year to date. We continue to expect further good progress over the remainder of the year, despite ongoing challenging market conditions, and the Board views the future with confidence," Roberts said.
- Market share gains driving organic corrugated packaging volume growth of +2.2%, led by good growth in areas of focus; - Germany and CEE
- Improved performance across our key operational metrics
- Return on sales progression of 40bps to 7.7% despite input cost pressures
- Synergy benefits from SCA Packaging acquisition fully on track
- Results in line with our medium-term targets
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