DS Smith Says Financial Performance In Line With Expectations - Quick Facts
(RTTNews) - DS Smith plc (SMDS.L), in its pre-close trading update for the year ended April 30, 2019, said Tuesday that its financial performance has continued in line with expectations.
The company said it has seen ongoing growth in corrugated box volumes and market share gains, driven by its FMCG-focused customer base and strong position in the e-commerce packaging market.
All regions have seen 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 said.
The company expects group margins to progress further in the second half of the financial year ending 30 April 2019 and operating cashflow generation to be stronger than in the comparable period last year.
Miles Roberts, Group Chief Executive, said, "The acquisition of Europac has significantly enhanced our European operations and the Group has also been strengthened strategically and financially by the agreed disposal of our Plastics division we announced in March. Notwithstanding the current economic uncertainties, this progress, together with our focus on the stable FMCG market, and enhanced cost and efficiency improvements position the business well."
The company plans to publish full-year results on June 13.