DS Smith sees big boost in revenues

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DS Smith sees big boost in revenues

Paper and packaging specialist DS Smith (LON:SMDS) has reported that revenues for the year ended 30th April rose by 21% to £5.76 billion through a combination of organic growth in all regions and the impact of recent acquisitions. Pre-tax profits also grew by 11% to £292 million. The company said that the rise in underlying paper prices had helped fuel its sales growth over the year, but volume growth also played its part.

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The firm said that demand had remained strong in the year to date and that multiple parties had expressed an interest in their plastics arm, which may be up for sale. CEO Miles Roberts said they were “seeing good momentum into 2018/19, feel that our model is more relevant than ever for our customers, and view the future with confidence“. Shares in DS Smith had dropped 2.45% to 550p at 15:10 BST.

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