Summary Income Statement
DS Smith Plc Continuing Operations
| Continuing operations £m | 2019 | 2020 | 2021 | 2022 | 2023 |
| Revenue | 6,171 | 6,043 | 5,976 | 7,241 | 8,221 |
| Operating costs | (5,540) | (5,383) | (5,474) | (6,625) | (7,360) |
| Operating profit 1 | 631 | 660 | 502 | 616 | 861 |
| Amortisation | (114) | (143) | (142) | (138) | (128) |
| Share of (loss)/profit of equity-accounted investments | 9 | 7 | 5 | 7 | 2 |
| Net financing costs before adjusting items | (71) | (87) | (78) | (70) | (74) |
| Profit before taxation and adjusting items | 455 | 437 | 287 | 415 | 676 |
| Acquisitions and divestments | (32) | (4) | (5) | 2 | (15) |
| Other adjusting items |
(73) | (65) | (51) | (39) | 0 |
| Profit before income tax |
350 | 368 | 231 | 378 | 661 |
| Income tax expense |
(88) | (78) | (49) | (98) | (169) |
| Profit for the year from continuing operations |
262 | 290 | 182 | 280 | 492 |
| Profit for the year from discontinued operations, net of tax | 12 | 237 | 12 | - | 11 |
| Profit for the year | 274 | 527 | 194 | 280 | 503 |
| Profit for the year attributable to: |
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| Owners of the parent |
274 |
527 |
194 | 280 | 502 |
| Non-controlling interests | - | - | - | - | 1 |
1. Before amortisation and adjusting items.
2. The Group adopted IFRS 16 on 1 May 2019 using the modified retrospective approach and practical expedients available. As per the specific transitional arrangements in the standard, comparative information has not been restated.