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DS Smith pretax profit falls

Staff Writer | December 7, 2017
DS Smith reported a 1% decrease in pretax profit for the first half of fiscal 2018, and said the board was confident about the business' future performance.
DS Smith
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The supplier of recycled packaging for consumer goods said that profit in the six months ended Oct. 31 fell to 144 million pounds ($192.9 million), from GBP146 million in the year-earlier period.

The company said that revenue increased 19% to GBP2.8 billion, while the board raised the interim dividend 7% to 4.9 pence per share, up from 4.6 pence a year earlier.

DS Smith, which will join the FTSE 100 index later this month, said it achieved organic growth of 5.2% in corrugated box volumes for the first half of the year, fuelled by the company's e-commerce and pan-European customers.

DS Smith said it has started the second half of the year with good momentum, and added that there were exciting opportunities for growth in Europe and North America.