Pre Close Statement
27 October 2010
DS SMITH PLC PRE-CLOSE STATEMENT
DS Smith Plc, the international packaging supplier and office products wholesaler, today issues its pre-close statement for the half-year to 31 October 2010.
DS Smith Group
The encouraging overall trading reported for our first quarter has continued into the second quarter, with volumes continuing to be good. There has been no significant change to the financial position of the Group since our IMS of 7 September 2010.
Packaging
Our Paper and Corrugated Packaging businesses have maintained robust volume growth. Throughout the first half we have seen increases in input costs. Our phased recovery of those costs has continued fully in line with our plans, backed up by the service, innovation and quality of our product offering. Trading at Otor has been as expected, and integration work is progressing well.
Plastics have also continued to develop positively, with good volume growth and cost control.
Office Products Wholesaling
The trading performance at Spicers has continued satisfactorily.
Outlook
The year is progressing in line with expectations. The half-year results are expected to show a strong improvement on the comparable period for last year. We look forward to the remainder of the year with confidence due to our continued focus on FMCG, and greater presence in Europe, with service, quality and innovation at the centre of our product offering.
Forthcoming Dates
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Results for the half-year to 31 October 2010, including conclusions from the review of business strategy |
9 December 2010 |
Enquiries
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DS Smith Plc |
+44 (0)1628 583 400 |
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Miles Roberts, Group Chief Executive |
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Steve Dryden, Group Finance Director |
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Rachel Stevens, Head of Investor Relations |
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Tulchan |
+44 (0)20 7353 4200 |
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John Sunnucks |
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David Allchurch |
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Matthieu Roussellier |
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