Smith (DS) PLC AGM Trading Statement (7918P)
September 05 2017 - 2:00AM
UK Regulatory
TIDMSMDS
RNS Number : 7918P
Smith (DS) PLC
05 September 2017
5 September 2017
DS Smith Plc - AGM trading statement
DS Smith Plc ("DS Smith"), the leading supplier of recycled
packaging for consumer goods, today issues a trading update in
respect of the period since 1 May 2017. DS Smith will hold its
Annual General Meeting at 12 noon today.
Trading update
It has been an encouraging start to the year with trading in
line with our expectations. We are delighted with the continuing
strengthening of relationships and progress with our customers.
This is being reflected in the strong demand for our enhanced
packaging solutions across the business with the rate of like for
like volume growth being well ahead of the comparative period last
year. Progress with our pan-European and e-commerce customers was
particularly strong again and the recovery of recent increases in
paper prices is progressing as expected, with the impact of the
short term recovery period continuing to be mitigated by
operational leverage coming from the strong top-line growth.
Acquisition of Interstate Resources Inc. ("Interstate")
DS Smith completed the acquisition of Interstate on 25 August
2017. Trading at Interstate in the calendar year to date is fully
in line with our expectations at the time of the acquisition, which
supports our confidence in this business. Integration work by our
experienced team is well underway and a further update will be
provided at the time of our half-year results in December.
Miles Roberts, Group Chief Executive, said:
"We are very pleased with the reception by our customers to our
continuing development of market leading packaging solutions. These
solutions are increasingly valued as they help our customers to
improve their own sales, reduce total costs and mitigate risk. This
has resulted in the strong volume momentum seen last year
accelerating into the current year to date. The response from the
employees and customers to our acquisition in the US has also been
very pleasing. Our outlook therefore is positive and we have
confidence in the future."
Conference Call
A conference call for analysts and investors, hosted by Miles
Roberts, will take place today, 5 September 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 12
September 2017. The dial-in number is: +44 (0)20 8196 1998, access
pin 2348647#. A recording and transcript of the call will also be
available through the Investor Relations section of our website:
www.dssmith.com/investors.
Technical note on segmental reporting
Starting at the half-year to 31 October 2017, DS Smith will have
an additional segment of North America, comprising our integrated
fibre packaging business in that region.
Forthcoming Dates
Results for the half year to 31 October 7 December 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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