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Paper Recycling March 04, 2021 01:45:53 PM

DS Smith Announced Q3 Trading Update

Paul Ploumis
ScrapMonster Author
The strong volumes witnessed during the Christmas time extended beyond that continuing to 2021, with e-commerce demand witnessing significant surge.

DS Smith Announced Q3 Trading Update

SEATTLE (Scrap Monster): London, England-headquartered multinational packaging business DS Smith plc issued trading update for the three-month period ending 30th January, 2021.

The company sees particularly strong box volume performance, mainly driven by its differentiated product offering. The trading continued to progress well, despite rise in input costs, said the company statement. Meantime, input costs, including OCC, have increased during the quarter, thus driving paper prices higher. The company has started to recover these additional costs by hiking packaging prices.

The strong volumes witnessed during the Christmas time extended beyond that continuing to 2021, with e-commerce demand witnessing significant surge. The corrugated box volume growth witnessed notable acceleration in Q3, compared to the quarter before that. The domestic volume growth has resulted in significant improvement in its North American business.

Miles Roberts, Group Chief Executive noted that the company delivered robust Q3 performance amidst challenging macro-economic environment. The company sees robust demand for its sustainable packaging products, especially from FMCG and e-commerce customers and is confident about delivering results in line with expectations, he added.

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