DS Smith Published Trading Update for First Half of the Fiscal

SEATTLE (Scrap Monster): DS Smith published trading update for the half-yearly period ending 31^st October, 2020.

The company noted that the company’s performance has witnessed expected improvement, mainly due to favourable market trends. The expectations for overall financial performance continue to remain unchanged. All of the company’s manufacturing facilities continued to remain open and fully operational throughout the period, despite considerable challenges raised by the pandemic crisis.

The corrugated box volumes reported growth in Q2 this fiscal, compared with the comparable period in 2019. The overall volumes during H1 this fiscal is likely to dip marginally by 1.5% than the prior year six-month period. The corrugated box growth reported positive trends in the U.S. and Europe. The very high demand from e-commerce sector is likely to improve further during the upcoming festive season.

The profit for the half-yearly period is likely to remain lower than the previous year, due to Covid-19 impacts.

Miles Roberts, Group CEO, DS Smith said that he is extremely pleased with the performance of the Group in the first half of the year, especially in the midst of difficult and uncertain economic environment caused by Covid. The company remain committed to focus on cost efficiency and cash generation, he added.

YOU MAY ALSO BE INTERESTED IN:

DS Smith Won Prestigious Gold Award at the Slovenian Packaging Oscar 2020

DS Mith Mills Press Forward Efforts to Cut Carbon Emissions