DS Smith trading in line despite ‘challenging’ end markets

Packaging company DS Smith said on Tuesday that trading since 1 May has been in line with its expectations despite "challenging" end markets, amid continued resilient pricing and strong cost control measures.

In a brief update, the company said like-for-like performance in corrugated box volumes has improved since the start of the financial year, with clear signs of reduction in customer de-stocking, although it remains below the prior year comparative.

Chief executive Miles Roberts said: "While the economic environment in which we operate remains challenging we have started the financial year well. We continue to work closely with our customers, meeting their evolving needs and are pleased with their positive feedback and the progress we are making.

"This, together with our ongoing focus on cost and operational efficiencies and our robust and flexible supply chain, positions us well for the remainder of FY24 and beyond."