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DS Smith reports “strong volume growth”

Recycled packaging supplier DS Smith has reported continued “strong volume growth” in its pre-close statement for the full year to 30 April 2011, despite input cost increases.

It stated that good trading revealed in its interim statement in March has carried through as a result of the fast-moving consumer goods sector. Sales and capital have also shown good improvements, which it claims is a result of “our focus on service, quality and innovation to our customers”.

It added: “While we have seen the anticipated further input cost increases come through in the final quarter of the year, these costs are being recovered successfully.”

DS Smith announced the re-branding of its UK businesses at the end of last year.

The group revealed that the corrugated packaging business was particularly strong, with an underlying volume growth of around 8% in the year to date. It added that due to cardboard’s ease of recycling, it currently outperforms other packaging materials. Trading in its plastics business is “good” and has also seen strong volume growth, cost control and recovery of input costs. 

The group expects to achieve its financial objective of sales volume growth of more than 3%, return on sales between 6% and 8% and return on average capital employed between 12% and 15%.

Full-year results are scheduled for publication on 23 June.

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