9 March 2023
DS Smith Plc – Q3 trading statement
DS Smith Plc (“DS Smith”), today issues a trading update in respect of the period since 1 November 2022.
Continued strong trading in line with management expectations
· The positive trends in profitability experienced in H1 have continued into H2 with the financial performance in line with our expectations
· We have continued to take market share, driven by our strategic focus on resilient sectors such as food and drinks, although like for like corrugated box volumes during H2 have been lower than the comparative period with market weakness and evidence of de-stocking over Christmas and New Year
· Our robust and flexible supply chain, together with ongoing cost management initiatives and resilient pricing, have more than offset the lower volumes, driving further margin progression, strong profit growth and improvement in our return on capital.
Miles Roberts, Group Chief Executive, said:
“We have continued to perform well in the second half of the year despite the volatile macro-economic conditions. As expected, profitability and returns have grown strongly and cash generation remains good. We continue to stay very close to our customers and their evolving needs, which, together with a relentless cost focus and robust supply chain, positions us well for the remainder of the year and into our next financial year.”
Conference Call
A conference call for analysts and investors, hosted by Miles Roberts, will take place today, 9 March 2023 at 8:00am London time. The dial-in number is:
UK/International +44 (0)33 0551 0200
UK Toll Free 0808 109 0700
Password DS Smith
A play-back facility of this call will be available until 16 March 2023. The dial-in number is: +44 (0)20 8196 1480, access pin 8041124#. A recording of the call will also be available through the Investor Relations section of our website: https://www.dssmith.com/investors/results-and-presentations