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DS Smith trading in line as rising box volumes offset by input costs
StockMarketWire.com
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Packaging company DS Smith said it was trading in line with its expectations, with higher box volumes offset by a rise in input costs.
'Trading continues to progress well, with the trends and momentum described in our first-half results on 10 December continuing into the second half,' the company said.
Like-for-like corrugated box volume growth had accelerated compared to the second quarter, with e-commerce strength over Christmas continuing into 2021.
DS Smith said it also had seen some 'encouraging signs of recovery' from its industrial customers.
Rising input costs, together with high demand, continued to drive higher paper prices.
'We have started to recover these additional costs through higher packaging prices and our expectation is, with the customary lag, they will be fully recovered and underpin continued momentum into the 2022 financial year,' the company said.
Story provided by StockMarketWire.com
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