Edition:
United States

DS Smith Says FY Adjusted PBT Up 31%, Raises Europac Deal Synergies


Thursday, 13 Jun 2019 02:01am EDT 

June 13 (Reuters) - DS Smith PLC ::FY ADJUSTED PROFIT BEFORE TAX £569M UP 31%.FY REVENUE £6,171M UP 12%.FY PROFIT BEFORE TAX £350M UP 35%.FY DIVIDEND PER SHARE 16.2P.ACQUISITION OF EUROPAC - UPGRADE TO SYNERGIES FROM EUR 50M TO EUR 70M.SALE OF PLASTICS DIVISION AGREED.RAISE MEDIUM-TERM RETURN ON SALES TARGET, UP TO 10 - 12 PER CENT.VOLUME WEAKNESS IN EXPORT-LED MARKETS IN H2, IN GERMANY, BUT EXPECT THIS TO IMPROVE DURING CURRENT YEAR.FY NORTH AMERICA BUSINESS HAS PERFORMED WELL AHEAD OF INITIAL EXPECTATIONS.CONSIDERED AND PLANNED FOR THE POTENTIAL IMPACT OF BREXIT ON BUSINESS.MADE PLANS FOR CONTINGENCY LEVELS OF SPARE PARTS AND OTHER ESSENTIAL ITEMS FOR CONTINUOUS RUNNING.DS SMITH, ON A POTENTIALLY DISORDERLY BREXIT, SAYS EXPECT DISRUPTION TO OWN OPERATIONS TO BE RELATIVELY CONTAINED.DS SMITH SAYS NOT IMMUNE FROM DISRUPTION THAT MIGHT OCCUR IN EVENT OF DISORDERLY BREXIT, INCLUDING IMPACT OF CHANGES IN ORDER PATTERNS FROM CUSTOMERS.UK OPERATIONS UTILISE PAPER MANUFACTURED AT CO'S KEMSLEY MILL IN KENT, UK, IN ADDITION TO PAPER FROM OTHER MILLS ON CONTINENTAL EUROPE.