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DS Smith PLC on Wednesday said that it remains resilient to market pressures, though box volumes were flat in the third quarter. According to the Weybridge, England-based paper and packaging firm, like-for-like corrugated box volumes have continued to improve compared to the first half, despite flat like-for-like volumes since November 1. In particular, DS Smith noted that North America and Eastern Europe have seen particularly ‘good growth’ over the third quarter, offset by a weaker performance in Northern Europe. Looking ahead, the packaging firm emphasised that it remains focused on operational efficiency and tight cost control, as well as resilient pricing. In the final quarter, DS Smith expects containerboard price increases to be reflected in ongoing packaging prices. Overall trading, it added, remains in line with management expectations. ‘I am pleased with a continuing resilient performance, despite tough economic conditions. 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,’ said Chief Executive Miles Roberts. ‘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.’ DS Smith shares were trading 0.5% higher at 321.80 pence each in London on Wednesday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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