StockMarketWire.com - Packaging company DS Smith said it had seen strong growth in box volumes and had made progress offsetting higher input costs with price rises.

Chief executive Miles Roberts said he was 'very pleased' with the company's progress since the start of its financial year on 1 may, in a trading update for its annual general meeting.

'We have continued to build on our strong customer relationships resulting in excellent volume growth and good progress towards recovering the significant increasing costs of production through higher prices,' he said.

'Consequently overall trading continues to strengthen in line with our expectations.'

Apart from growing strongly compared to last year, Roberts said box volumes also had growth compared to the same period in 2019.

Input costs, however, had continued to rise with notable increases in the cost of energy and transportation.

'Combined with the cost of OCC remaining high, this has resulted in further significant increases in the price of paper,' he said.

'Given the strong demand for our packaging we have seen good progress towards recovering these increases.' Story provided by StockMarketWire.com