DS Smith news ticks boxes for investors

0 mins. to read
DS Smith news ticks boxes for investors
Master Investor Magazine

Master Investor Magazine 60Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

The price of shares in FTSE 100 packaging firm DS Smith (LON:SMDS) rose by 3.04% to 332.30p (as of 14:00 GMT) after the company posted a trading update. Management said that volumes continued to increase since November despite on-going macroeconomic uncertainties. The integration of recently acquired operations has proceeded well, but export-led European markets remained subdued.

CEO Miles Roberts commented: “The Group has delivered a robust performance during the period within a challenging macro-economic environment. Whilst we continue to monitor events and work closely with all our suppliers and customers, we have not to date seen any material impact to our business from coronavirus.

“Our sustainable packaging offering including the replacement of plastics is becoming ever more important to our FMCG and e-commerce customers and we continue to gain market share.

“Despite continued uncertainty in the macro-economic environment, our focus on pricing discipline, enhanced cost and efficiency improvements, and cash generation, support our expectation of further good progress in the year“.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *