DS Smith says 1H trading in line with expectations

Paper packaging specialist DS Smith reiterated its guidance for first half operating profits thanks to a sequential improvement in corrugated box volume performance and better-than-expected pricing.

Earnings before interest, taxes, and amortisation were seen at roughly £360m over the six months to 31 October.

Corrugated box volumes remained below their year earlier level and the macro-economic environment was described as "weak".

However, the company anticipated volume performance would improve in the back half of the financial year and said that it was well positioned for the remainder of the year.

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