DS Smith full-year revenue up, boosted by acquisitions

FSTE 250 packaging company DS Smith reported a small jump in full-year profit as revenue grew, partly thanks to acquisitions.

In the 12 months to 30 April, pre-tax profit rose 1% to £201m, or 3% at constant currency, on revenue of £4.06bn, up 6%.

Chief executive Miles Roberts said: “We are delighted to report another year of strong growth underpinned by 10% organic growth in our adjusted operating profit supplemented by 6% from acquisitions. Strong financial discipline allows us again to deliver on all our priorities.

“The year has seen the group further strengthen our offering to pan-European customers, who increasingly require an international partner who not only designs and produces high quality packaging, but also works collaboratively with them to manage their supply chains and drive sales in a multi-channel retail environment. The excellent growth that we have delivered over the last six years demonstrates the success of this strategic focus. “

The company said it continued to outperform the market, with strong organic corrugated box volume growth of 3.1% and growth in all regions.

In addition, it expanded its European footprint with five acquisitions completed in the year for a total of £433m, expanding the company’s presence in 13 countries.

DS Smith proposed a final dividend of 8.8p per share, giving a total dividend for the year of 12.8p, up from 11.4p the year before.

At 0807 BST, shares were up 3.2% to 399.20p.