Smith (DS) PLC Trading Statement (2750M)
May 06 2015 - 2:02AM
UK Regulatory
TIDMSMDS
RNS Number : 2750M
Smith (DS) PLC
06 May 2015
6 May 2015
DS Smith Plc - 30 April 2015 Year end trading update
CONTINUED GOOD GROWTH
DS Smith Plc, the leading supplier of recycled packaging for
consumer goods, today announces a trading update for the year to 30
April 2015.
Trading update
Group performance in the year has been in line with our
expectations, with strong underlying growth more than offsetting
the continued strengthening of sterling on translated results. The
market and business trends from our trading update of 23 February
2015 have remained consistent with volume growth in H2 ahead of our
first half and the prior year. Growth has been across all regions,
as the roll-out of our design centres and proposition continues to
gain good customer traction.
Return on sales and return on capital continue to improve due to
further business integration, increasing our value-added products
and services to customers, and operational efficiencies, combined
with tight working capital management.
Our outlook remains positive as the business performs in line
with our medium term financial targets, despite economic headwinds
in many of our markets, and the Board continues to view the future
with confidence.
Duropack update
Following the announcement of the proposed acquisition of
Duropack, on 23 February 2015, the necessary competition filings
have been made and it is expected that completion will take place
in Q1 of our financial year 2015/16. Plans are in place to
integrate this business immediately from completion and we look
forward to building on the excellent market positions that Duropack
already has in its regions.
Miles Roberts, Group Chief Executive, said:
"We are pleased with the performance of the business in the
year, in particular the continued market share and volume growth.
We continue to actively manage our business portfolio and the
progress we have made with customers during the year, together with
the opportunities we see for growth in these markets, gives us
confidence in the prospects for the business."
Enquiries
DS Smith Plc +44 (0)20 7756 1800
Hugo Fisher, Group Communications Director
Rachel Stevens, Investor Relations Manager
Bell Pottinger
John Sunnucks +44 (0)20 3772 2549
Ben Woodford +44 (0)20 3772 2566
Forthcoming events
Results for the year to 30 April 2015 25 June 2015
Conference call
There will be a conference call at 08:00 today for analysts and
investors, hosted by Miles Roberts, Group Chief Executive, and
Adrian Marsh, Group Finance Director. Dial-in details:
Standard International Access : +44 (0) 20 3003 2666
UK Toll Free: 0808 109 0700
Password: DS Smith
A play-back facility of this call will be available until 13 May
2015. The dial-in number is: +44 (0) 20 8196 1998, access pin:
5229588#. A recording and transcript of the call will also be
available through the Investor Relations section of our website:
www.dssmith.com
Notes to analysts
DS Smith foreign exchange exposure
% EBITA Average rate Average rate Closing rate
2013/14 2013/14 2014/15 30/4/15
------- --------- ------------- ------------- -------------
Euro 65% 1.191 1.290 1.368
------- --------- ------------- ------------- -------------
SEK 7% 10.492 11.946 12.789
------- --------- ------------- ------------- -------------
PLN 5% 5.027 5.381 5.527
------- --------- ------------- ------------- -------------
USD 5% 1.607 1.598 1.535
------- --------- ------------- ------------- -------------
Other 5% NA NA NA
------- --------- ------------- ------------- -------------
GBP 13% NA NA NA
------- --------- ------------- ------------- -------------
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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