Smith (DS) PLC Trading Statement (9318Y)
March 09 2017 - 2:01AM
UK Regulatory
TIDMSMDS
RNS Number : 9318Y
Smith (DS) PLC
09 March 2017
9 March 2017
DS Smith Plc - trading statement
DS Smith Plc, the leading supplier of recycled packaging for
consumer goods, today issues a trading update in respect of the
period since 1 November 2016.
Trading
The business has performed in line with our expectations,
continuing to build on the progress made in the first half of the
year with sustained good volume growth. As before, this growth has
been particularly strong from e-commerce businesses, which is an
area of considerable focus for us. Pan-European customer volumes
continue to grow ahead of the Group average rate as customers
recognise the benefit of a co-ordinated multi-national solution to
their packaging requirements.
Strengthening our business
In the first half of the year, we acquired two businesses, Creo
(in the UK) and Deku-Pack (in Denmark) for a total of GBP37
million. Since 1 November 2016 we have continued to invest and
acquire businesses in attractive geographies and growth market
segments. As previously announced, we have completed the
acquisitions of P&I Display and Gopaca in Portugal, expanding
our position in the important Iberian market and building on our
pan-European point of sale capability. We have also completed the
acquisition of Parish Manufacturing, a US manufacturer of flexible
plastics packaging.
Outlook
Our outlook remains positive, despite ongoing challenging
economic conditions. Volumes continue to grow well and the Board
continues to anticipate performance in line with our medium term
financial targets and views the future with confidence.
Miles Roberts, Group Chief Executive, said:
"We are pleased with the sustained, consistent progress of the
business, both organically and from the contribution from acquired
businesses. Customer and consumer trends continue to drive the
requirement for sophisticated, innovative packaging, and we have
the scale and expertise to invest behind these trends and
consistently drive growth. Accordingly, we remain confident for the
future."
Conference Call
A conference call for analysts and investors, hosted by Miles
Roberts, will take place today, 9 March 2017 at 8.00am London time.
The dial-in number is:
UK / International +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 16
March 2017. The dial-in number is: +44 (0)20 8196 1998, access pin
3550135# . A recording and transcript of the call will also be
available through the Investor Relations section of our website:
www.dssmith.com/investors.
Forthcoming Dates
Results for the full year to 30 April 29 June 2017
2017
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
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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