Smith (DS) PLC DS Smith Plc half-year pre-close trading statement (5643N)
October 27 2016 - 2:00AM
UK Regulatory
TIDMSMDS
RNS Number : 5643N
Smith (DS) PLC
27 October 2016
27 October 2016
DS Smith Plc - Half-year pre-close trading statement
DS Smith Plc, the leading supplier of recycled packaging for
consumer goods, today issues a pre-close trading update in respect
of the half-year ending 31 October 2016.
The business has again made good progress and performance
remains in line with our expectations. Volume growth continues to
be supported by strong ongoing growth with our large pan European
customers. Our return on sales and return on capital employed are
expected to show progression over the comparative period last year
despite the initially dilutive effect of recent acquisitions.
As in previous periods, we have invested in both organic and
inorganic opportunities in the half-year and are pleased with the
initial performance of the recently acquired display businesses,
Creo and Deku-Pack, which form an important part of our strategy
for this growth market segment.
Miles Roberts, Group Chief Executive, said:
"The business continues to demonstrate good momentum with growth
in line with our expectations, despite the considerable political
and economic uncertainty. Alongside our ongoing delivery, we are
also investing in our growth markets, particularly in packaging
that helps our customers serve consumers across a broader range of
retail channels. These opportunities, together with our broader
geographical footprint, give us continued confidence in our
future."
Forthcoming Dates
Results for the half year to 31 October 8 December 2016
2016
Enquiries
DS Smith Plc +44 (0)20 7756 1800
Hugo Fisher, Group Communications Director
Rachel Stevens, Investor Relations Director
Bell Pottinger
John Sunnucks +44 (0)20 3772 2549
Ben Woodford +44 (0)20 3772 2566
Technical note
For detail of our business and financing by currency please
refer to slides 33 and 34 of our full-year results presentation
2016
http://www.dssmith.com/investors/results-and-presentations/2016/ds-smith-full-year-results-201516/
The average EUR:GBP rate for H1 2015/16 was 1.3857. The rate on
31 October 2015 was 1.4019 and on 30 April 2016 was 1.2724.
Definitions
-- Return on sales: earnings before interest, tax, amortisation
and exceptional items as a percentage of revenue.
-- Return on average capital employed (ROACE): earnings before
interest, tax, amortisation and exceptional items as a percentage
of the average monthly capital employed over the previous 12 month
period. Average capital employed includes property, plant and
equipment, intangible assets (including goodwill), working capital,
provisions, capital debtors/creditors and assets/liabilities held
for sale.
Cautionary statement
This announcement contains certain forward-looking statements
with respect to the operations, performance and financial condition
of the Group. By their nature, these statements involve uncertainty
since future events and circumstances can cause results and
developments to differ materially from those anticipated. The
forward-looking statements reflect knowledge and information
available at the date of preparation of this announcement and DS
Smith plc undertakes no obligation to update these forward-looking
statements. Nothing in this trading statement should be construed
as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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