- Packaging company DS Smith scrapped its interim dividend amid other cost saving measures, citing uncertainty created by the Covid-19 crisis.

The company said it would consider whether to pay more dividends for its current financial year through April when it released its results in July.

Trading since its on 4 March had remained resilient with relatively limited impact from Covid-19 seen to date, with performance for the financial year anticipated to be in line with our current expectations, it said.

DS Smith noted that supplies into the grocery sector had been very busy particularly in ambient food, drinks, hygiene, frozen food and dry packaged grocery categories.

E-commerce had also been strong in most categories but increasingly in everyday essential products.

'Notwithstanding our strong liquidity profile, the resilient trading to date and the actions we are taking, we are conscious that we are operating in an exceptionally uncertain global environment and we will inevitably be impacted by any severe prolonged downturn in global economic activity,' the company said.

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