Packaging company DS Smith has reported strong growth in revenues and profits in its business year 2013/2014, ended 30 April, despite challenging market conditions in European.
Total revenues was £4.04bn, representing almost 10% growth compared to the previous year. Operating profit increased by £75% to 218m while profit for the year almost doubled from £74m in 2012/2013 to £141m in 2013/2014.
Miles Roberts, Group Chief Executive of DS Smith, says:
"This is a strong set of results achieved despite economic conditions across Europe remaining challenging. We have achieved our synergy targets for the year and delivered good growth in profits, returns and dividends.
At the heart of our performance is an unrelenting focus on the customer. Our strengthened customer proposition and an ability to deliver across the whole customer supply cycle has led to increased market share across our regions.
The current year has started well and is in line with our expectations. While we are planning for a difficult consumer economic environment to remain, our focus on delivery, capital discipline and continued investment in the business provides us with confidence in the sustainability of our business model. Looking ahead we remain excited about further growth opportunities for the Group."
