Packaging firm DS Smith rewarded for increasing market share

Packaging and office products company DS Smith today said full-year profits rose as the company increased its share in key markets, and said the strong momentum seen at the end of last year is continuing into the current financial year.

The producer of recycled packaging also raised its final dividend by 45 percent to 4.5 pence, taking the total dividend to 6.5 pence.

For the year ended April 31, the company, whose customers include Procter & Gamble and Nestle, posted an adjusted pretax profit of £108.9 million compared with £72.4 million a year ago.

Revenue rose 19 percent to £2.47 billion.

Analysts on average had expected DS Smith to earn 101.5 million pounds before taxes, on revenue of £2.46 billion.