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Prices & Quotes - UK Markets - Smith (DS) (SMDS)

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Share Price:
Down 425.00p
Change Today:
-7.40p
Market Cap:
5,837m
Sector:
General Industrials

DS Smith interims to meet expectations following margin growth

By Duncan Ferris

Date: Thursday 31 Oct 2019

LONDON (ShareCast) - (Sharecast News) - DS Smith reiterated its interim guidance on Thursday, stating that it expected good margin progression despite ongoing macro-economic uncertainty.
For the six month period ended 31 October, the international packaging business said it now anticipated margin progression consistent with its upgraded target of a 10.0% to 12.0% return on sales due to strong pricing discipline, cost improvements and modest box volume growth.

Further volume increases are expected in the second half of the year following new business wins in Europe and the US.

Even so, the FTSE 100-listed company warned that macro-economic uncertainty continues to impact volumes in some markets, particularly economies with significant export-led market exposure such as Germany.

Meanwhile, DS Smith said the start of production at its greenfield packaging plant in Indiana, scheduled for before the end of 2019, will enhance its packaging customer offering, result in a more balanced paper position in the US and support improved profitability.

The company's integration of Europac is on track to deliver the upgraded €70.0m synergy target and the Plastics division is still expected to be sold off around the end of the calendar year, leading to anticipated net proceeds of around 400m.

Chief executive Miles Roberts said: "While we expect ongoing economic uncertainty to continue to drive input cost volatility, our focus on pricing and margin, together with cash generation and the opportunities for further cost and asset efficiency improvements, supports our expectation of further good progress in the year."

DS Smith shares were down by 1.20% at 353.21p at 0917 GMT.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Smith (DS) Market Data

Currency UK Pounds
Price 425.00p
Change Today -7.40p
52 Week High 445.60p
52 Week Low 252.70p
Volume 5,093,820
Shares Issued 1,373.33m
Market Cap 5,837m

Performance Indicators

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 6
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Smith (DS) Dividends

  Latest Previous
  Final Interim
Ex-Div 07-Oct-21 08-Apr-21
Paid 01-Nov-21 04-May-21
Amount 8.10p 4.00p

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 1,702,219 @ 425.00p
16:29 182 @ 426.20p
16:29 567 @ 426.10p
16:29 395 @ 426.40p
16:29 14 @ 426.40p

Smith (DS) Key Personnel

CEO Miles Roberts