Shares of DS Smith PLC (LON: SMDS) gained over 3% today after the packaging firm said it has witnessed “significant improvement” in demand in the last quarter.
Corrugated box volumes fell 1.5% in the six months to October 31 compared to the same period a year ago. Despite improving volumes, the firm expects a profit for the second half of its fiscal year to come lower than last year.
“I am pleased with the performance of the group in the first half of the year, in what remains a difficult and uncertain economic environment caused by Covid. We continue to be excited by the underlying drivers of demand for our sustainable corrugated packaging and our leading offerings for FMCG and e-commerce customers, together with our focus on cost efficiency and cash generation, give us confidence in the business going forward,” said Chief Executive Miles Roberts.
Interested in investing after today’s move?
XTB gives investors access to thousands of UK and international stocks,
including fractional shares from just £1.
Explore stocks with XTB →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to invest in the stocks making the news?
Go from following the market to investing in it, with access to thousands
of stocks across major UK and international markets.
See available stocks →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Own the stocks you’re reading about
Invest in real shares across the UK, US and other major global markets
through XTB, all from one investment account.
Explore XTB shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
You don’t need to buy a whole share
Fractional shares let you invest from just £1, giving you more control
over how much you put into individual companies.
Explore fractional shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to see how XTB works first?
Explore the platform with an XTB demo account before deciding whether
you want to invest with real money.
Try the XTB demo →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
DS Smith, Europe’s largest recycler of paper and cardboard, reiterated its intention to pay an interim dividend. The packaging titan is scheduled to report its interim results on December 10.
DS Smith share price rose over 3% to trade above 300p for the first time in two weeks.
PEOPLE WHO READ THIS ALSO VIEWED:
