..A leading supplier of recycled packaging in Europe

With a turnover in 2011/12 of £2.0 billion and employing more than 20,000 people, DS Smith Plc is an international supplier of recycled packaging for consumer goods.

On 30 June 2012 DS Smith acquired SCA Packaging. On a combined basis, the group is now the second largest manufacturer of corrugated products in Europe. We are also a leading worldwide supplier of bag-in-box packaging and a leading European supplier of plastic returnable transit packaging. The combined Group now has revenues of approximately £4 billion (based on a combination of historically reported figures and a 12 month contribution from both businesses).

DS Smith is a FTSE 250 company listed on the London Stock Exchange and headquartered in Maidenhead.

http://www.dssmith.com/

Half Year pre close statement
RNS
RNS Number : 4840D
Smith (DS) PLC
27 October 2015

27 October 2015



DS Smith Plc - pre-close trading statement

for the half year ending 31 October 2015



DS Smith Plc, the leading supplier of recycled packaging for consumer goods, today issues a pre-close trading statement for the half year ending 31 October 2015.



Group performance remains in line with our expectations, and the business and market trends, as detailed in our trading update on 8 September 2015, have continued. Volume growth remains good while margins, ROACE and EPS continue to show strong growth.



We continue to actively manage our asset portfolio to enhance the quality of our business and our geographic footprint. We have been very active in the half year period completing the acquisitions of Duropack, Lantero and most recently, the acquisition of the market leading corrugated business in Greece. At the same time, we agreed to sell our stake in the Turkish operations of Cukurova Group and we have announced a proposal to reduce our paper capacity via the closure of our Wansbrough paper mill.



Performance of the acquired businesses to date has been better than originally anticipated with good customer reception to our entry into new markets.


Miles Roberts, Group Chief Executive, said:

"We are very pleased with the growth in margins, returns and earnings delivered in the year so far. We have achieved this by a continued focus on delivering for our customers by developing our geographic coverage and the quality of our service offering and customer relationships.



Our outlook remains positive as volumes and financial returns continue to grow, despite no change in market conditions. The Board expects continued performance in line with our medium term financial targets, views the remainder of the year with confidence and remains excited about the opportunities for the Group."



Forthcoming Dates

Results for the half year to 31 October 2015
3 December 2015

27 Oct Canaccord... 430.00 Hold

28 Oct Davy Research N/A Underperform
28 Oct JP Morgan... 440.00 Overweight
27 Oct Canaccord... 430.00 Hold

Half year results

Market Buzz



Fri, 04 December 2015


Friday newspaper share tips: DS Smith a share to keep



Smith (DS) Quote more






Price: 396.60

Chg: 2.10

Chg %: 0.53%

Date: 16:35



FTSE 250 Quote


Price: 17,366.94 Chg: -24.93 Chg %: -0.14% Date: 17:14

(ShareCast News) - DS Smith is being unpacked by the papers in Friday's share tips.
The FTSE 250 packaging group posted a drop in first half pre-tax profit and revenue as the packaging company took a hit from restructuring costs.

For the six months to the end of October, pre-tax profit fell 26% to £91m as the group booked £48m of exceptional costs, namely related to the closure of its Wansborough paper mill and other restructuring activity.

Meanwhile, revenue slipped 1% from the first half of last year to £1.95bn. At constant currency, however, revenue was up 6%.

The Telegraph's Questor noted that while the business of cardboard boxes may to some be a bit boring, it has proven reliable enough to support growth and expand through acquisitions.

It said that the company still has plenty of scope to carry on growing, with a market share of around 16% in Europe.

Questor also highlighted that while the acquisitions have driven debt levels up, investors should not worry as the company has a habit of reducing debt levels quickly as it generates cash.

It said the shares have been on a great run over the year and as the company is growing earnings, the dividend should rise by quite a bit and advised to 'hold for the income'.

The Times' Tempus was a bit more optimistic and rated the shares a 'buy' on Friday.

It said that when chief executive Miles Roberts arrived at the company, he promised he would make it the leader in recycled packaging for consumer goods - a promise he's kept through acquisition.

Tempus also said that the company has worked closely with customers to develop packaging they need to promote greater efficiencies.

However it pointed out the company's weakness to exchange rates, specifically the fall in the euro against the pound, as well as the company's exceptional restructuring costs.

It said yesterday's 21.5p fall in the share price was hard to fathom and advised the fall helps it look like an attractive buying opportunity, observing that the company is still performing well and is building in future growth.

DS Smith (LON:SMDS), up 7.7%. Charles Stanley has initiated coverage on the packaging firm with a 'buy' rating.

Broker Forecast - Canaccord Genuity issues a broker note on Smith (DS) PLC
Canaccord Genuity today upgrades its investment rating on Smith (DS) PLC (LON:SMDS) to buy (from hold) and left its price target at 430p. Story provided by StockMarketWire.com

DS Smith Plc - trading statement
RNS
RNS Number : 4677R
Smith (DS) PLC
09 March 2016

9 March 2016



DS Smith Plc - trading statement



DS Smith Plc, the leading supplier of recycled packaging for consumer goods, today issues a trading update in respect of the four month period since 1 November 2015.



Trading update

In the second half of the year to date, the business has continued to progress in line with our expectations. Volume growth has been good, particularly in Western Europe and South Eastern Europe, where as expected, customers have reacted positively to our business offering including access to our design and innovation capability. Growth from pan-European customers continues to benefit from our increased scale and coverage and reflects our continued investment in quality, service and innovation.



Our return on sales and return on average capital employed have both shown further improvement versus the comparable prior year period, reflecting the benefit of operating leverage and the strength of our business model.



Strengthening our business

On 23 January 2016, we completed the acquisition of Milas Ambalaj, a high quality producer of specialist corrugated packaging and displays in Istanbul, Turkey. Integration is progressing as planned and we are pleased with the initial customer reaction. The businesses acquired in the first half of the year, in Iberia and South Eastern Europe, also continue to deliver in line with our expectations.



Outlook

Our outlook remains positive as volumes and financial returns continue to grow, despite ongoing challenging market conditions. The Board continues to anticipate performance in line with our medium term financial targets and views the remainder of the year with confidence.



Miles Roberts, Group Chief Executive, said:

"We are pleased with progress in the year to date as we continue to grow organically and integrate the businesses acquired over the past year, with a positive customer reaction. We aim to continue to develop our high quality packaging offering while extending our geographic reach. The performance of the business, together with the customer and market opportunities for growth, gives us confidence for the future."

Broker Forecast - Goodbody issues a broker note on Smith (DS) PLC
Goodbody today upgrades its investment rating on Smith (DS) PLC (LON:SMDS) to hold (from sell). Story provided by StockMarketWire.com

Trading Statement

RNS


RNS Number : 4315W

Smith (DS) PLC

27 April 2016




27 April 2016

DS Smith Plc - pre-close trading statement

Another year of good progress



DS Smith Plc, the leading supplier of recycled packaging for consumer goods, today issues a pre-close trading statement for the year ending 30 April 2016.



Group performance remains in line with our expectations. The trends described in our trading statement of 9 March 2016 have continued, with good volume growth across the business, and returns on sales and on average capital employed improved versus the comparable period. Growth from our large pan-European customers has been particularly strong, and has also been driven by our solutions for the fast growing e-commerce channel.



In line with our strategy, we are continuing to expand our geographic footprint and customer offering. We have invested around €600 million in acquisitions in this financial year, which are performing fully in line with our expectations. Most recently we have acquired TRM Packaging, a producer of specialist corrugated packaging and retail ready packaging, based in the North West of England, which will enhance our capabilities in this region.



Miles Roberts, Group Chief Executive, said:

"Packaging, and the supply chain in which it plays a part, is of great importance to our customers as they adapt for the evolving multi-channel retail environment. Over the year we have grown organically and by acquisition while at the same time improving our margin, and we remain excited about the opportunities for the business."



Forthcoming dates


Results for the full year to 30 April 2016

23 June 2016

Proactive investor - Thursday will also see final results from packaging company DS Smith (LON:SMDS), investors will be keen for an update on China expansion plans.

Full year results

Highlights

· Continued outperformance of the market

o Strong organic corrugated box volume growth of +3.1%

o Growth in all regions

o Excellent growth from pan-European customers and e-commerce

· Substantial investment to further strengthen the business

o Five acquisitions completed in the year, performing ahead of expectations

o Capital invested in-line with strategic priorities

· Continued delivery against our medium-term targets

o Sustainable financial returns

o Significant margin progression and record ROACE

· Further geographic expansion

o New or expanded presence in 13 countries

o Proposed acquisition of Gopaca in Portugal

o Acquisition of Creo - specialist Point of Sale / display

ShareCast News) - One of Britain's leading captains of industry is to warn the new Brexit minister that he may be forced to relocate his £4 billion UK-based manufacturing group to the Continent if the government does not keep the country within the European single market. In one of the first explicit examples of what Brexit means for British manufacturers, DS Smith, the provider of specialist packaging for Amazon and fast-moving consumer goods groups such as Unilever, Nestlé, Procter & Gamble and the Cadbury group Mondelez, has already diverted tens of millions of pounds of investment out of the UK to a new plant near Frankfurt. - The Times

Broker Forecast - Goldman Sachs issues a broker note on Smith (DS) PLC

Goldman Sachs today reaffirms its neutral investment rating on Smith (DS) PLC (LON:SMDS) and raised its price target to 400p (from 390p). Story provided by StockMarketWire.com

08:10 02/09/2016
Broker Forecast - Berenberg issues a broker note on Smith (DS) PLC

Berenberg today reaffirms its hold investment rating on Smith (DS) PLC (LON:SMDS) and raised its price target to 400p (from 375p). Story provided by StockMarketWire.com

DS Smith Plc - AGM trading statement

RNS


RNS Number : 0112J

Smith (DS) PLC

06 September 2016




6 September 2016



DS Smith Plc - AGM trading statement



DS Smith Plc, the leading supplier of recycled packaging for consumer goods, today issues a trading update in respect of the period since 1 May 2016. DS Smith will hold its Annual General Meeting at 12 noon today.



Trading update

The business has made good progress since the start of the year and performance has been in line with our expectations. Volume growth remains good, particularly from pan-European customers who continue to benefit from our increased scale and coverage, and reflecting our continued investment in quality, service and innovation.

Our return on sales and return on average capital employed have both shown further improvement versus the comparable prior year period, reflecting the benefit of operating leverage and the strength of our business model.



Strengthening our business

Since the start of the year, we have continued to invest organically and acquire businesses in attractive geographies and market segments, including e-commerce and display, building on the 5 acquisitions completed in 2015/16. The proposed acquisition of Gopaca, a well invested corrugated packaging business in Portugal, will expand our position in Iberia and complement the operations we have in this important region. The transaction, announced in June, is expected to complete during the first half of our financial year.



As in-store marketing spend continues to increase, we have invested significantly in display products and services. In addition to our organic investment, in June 2016 we acquired Creo, based in the south east of the UK and we recently completed the acquisition of Deku-Pack, located in Denmark. Both businesses are focussed on FMCG, retail and media markets and significantly build on our capability in this important and growing market segment.



Miles Roberts, Group Chief Executive, said:

"We are pleased with our start to the year and the momentum within the business, as we continue to grow organically and by acquisition. Notwithstanding the increased political and economic uncertainty within Europe, our outlook remains positive. Packaging has ever increasing relevance in a dynamic retail and consumer environment and our recent acquisitions, together with the customer and market opportunities for growth, give us confidence for the future."

6 Sep Goodbody N/A Hold
6 Sep Jefferies... 440.00 Hold
6 Sep Numis 460.00 Hold
2 Sep Goldman Sachs 400.00 Neutral
2 Sep Berenberg 400.00 Hold

Ex dividend Thurs 29 Sept - Smith (DS) PLC [SMDS] (8.8 p)

DS Smith Plc half-year pre-close trading statement
RNS
RNS Number : 5643N
Smith (DS) PLC
27 October 2016
 
27 October 2016
 
DS Smith Plc - Half-year pre-close trading statement
 
DS Smith Plc, the leading supplier of recycled packaging for consumer goods, today issues a pre-close trading update in respect of the half-year ending 31 October 2016.
The business has again made good progress and performance remains in line with our expectations. Volume growth continues to be supported by strong ongoing growth with our large pan European customers. Our return on sales and return on capital employed are expected to show progression over the comparative period last year despite the initially dilutive effect of recent acquisitions.
As in previous periods, we have invested in both organic and inorganic opportunities in the half-year and are pleased with the initial performance of the recently acquired display businesses, Creo and Deku-Pack, which form an important part of our strategy for this growth market segment. 
Miles Roberts, Group Chief Executive, said:
"The business continues to demonstrate good momentum with growth in line with our expectations, despite the considerable political and economic uncertainty. Alongside our ongoing delivery, we are also investing in our growth markets, particularly in packaging that helps our customers serve consumers across a broader range of retail channels.  These opportunities, together with our broader geographical footprint, give us continued confidence in our future."

12:40 27/10/2016
Broker Forecast - Numis issues a broker note on Smith (DS) PLC
Numis today upgrades its investment rating on Smith (DS) PLC (LON:SMDS) to add (from hold) and left its price target at 460p. Story provided by StockMarketWire.com

Half year results


Highlights
·     Organic volume growth of 2.9%
o  All regions in growth
o  Continued growth of pan-European FMCG and e-commerce customers
·     Delivering against all financial KPIs
o  Return on sales(4) increase of 10bps to 9.6%
o  ROACE(5) improvement of 10bps to 15.1%
o  Net debt / EBITDA(6) 1.9x
·     Strong profit growth
o  Adjusted operating profit +9%
o  Profit before tax +32%
·     Strengthening the business portfolio
o  Expanding pan-European point of sale and display capability
§ Acquired and integrated businesses in the UK and Denmark
§ Opened new plant in Erlensee, Germany
§ Acquisition of P&I, a specialist corrugated display business in Portugal
o  Completion of acquisition of Gopaca, corrugated packaging, in Portugal
o  Proposed acquisition of Parish Manufacturing Inc., a US bag-in-box plastics business