Recycled packaging company DS Smith has reported a 52 per cent increase in pre-tax profits to £85 million.
Its half year results show that this was based on a 25 per cent increase in revenue to just over £2 billion.
In particular, growth came from central Europe as well as its acquisition of Swedish packaging manufacturer SCA 18 months ago.
DS Smith group chief executive Miles Roberts said: “We are encouraged by the strong results announced today and the continued delivery of our strategy from our sustainable business model. The good volume reflects market share gains from a strengthened customer proposition, driven by innovation and removing complexity and cost from our customers’ supply chain.
“At the same time as gaining share and growing volumes, we have also improved our EBITDA margin, despite the headwind due to recent input cost increases which we are recovering as expected, with the usual lag.
“We are therefore pleased with the Group trading in the year to date. We continue to expect further good progress over the remainder of the year, despite ongoing challenging market conditions, and the board views the future with confidence.”
