- Packaging company DS Smith said it expected its margins to improve further in the second half, helping its overall performance meet market expectations.

In a trading update for the financial year through April, the company said it had seen ongoing growth in corrugated box volumes and market share gains.

The growth was driven by a resilient customer base and strong position in the e-commerce packaging market, DS Smith said.

'All regions have been in growth, with particular strength in the UK, Italy and Poland, partially offset by some volume weakness in certain export-led markets, including Germany,' the company added.

DS Smith said group margins were 'expected to progress further' in the second, while operating cashflow generation would be stronger than in the comparable period last year.

'Our financial performance has continued in line with our expectations,' the company said.

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