DS Smith has issued a trading update in respect of the period since 1 November 2023.
In the report, they company said like for like corrugated box volume performance continues to improve compared with the first half of their financial year, with flat like for like volumes in the period since 1 November 2023. North America and Eastern Europe saw good growth in the quarter, offset by a weaker performance in Northern Europe.
The company went on to say that its focus remains on resilient pricing, operational efficiency and tight cost control with anticipated containerboard price increases expected to be reflected in ongoing packaging prices, following the usual lag. Overall trading together with the outlook for the remainder of the year remains in line with management expectations.
“I am pleased with a continuing resilient performance, despite tough economic conditions,” said Miles Roberts, Chief Executive. “Our strong customer relationships, quality and service has led to a number of recent FMCG customer contract wins, underpinning our confidence in the outlook for volume growth going forward. While markets remain challenging, we continue to focus on providing value-added solutions to our customers and on driving operational efficiency and cost control across the Group and view the future with confidence.”
