Strong growth in annual profits for DS Smith
Packaging group DS Smith has seen strong growth in profits in the year to the end of April.
The group, which has a factory in Smethwick and a recycling site in Willenhall, expe4cts adjusted earnings befor etax of between £850 million and £860m.
Good cost management has more than offset the weaker than expected sales volumes to deliver growth in profits.
Chief executive Miles Roberts said: "I am pleased with the excellent performance we have delivered this year, despite the volatile macroeconomic conditions. Our relentless focus on more resilient international fast moving consumer goods customers to meet their rapidly evolving needs has enabled us to increase our share of their business and, together with ongoing cost management, has driven very strong profit growth.
"We remain committed to investing in our business, leveraging our scale, flexible supply chain, supporting our deep customer relationships with innovative fibre-based solutions to lead the transition to a more circular economy, positioning us well as we enter the next financial year."
DS Smith operates in 34 countries employing around 30,000 people.
