Euro helps packaging group
The international packaging manufacturer D S Smith issued an upbeat assessment of its performance today (25 April) and said it was being helped by the strength of the euro.
In a trading statement, the company said the second half of 2007/08 had been in line with expectations with performance well ahead of last year.
The group said it continued to benefit from the recovery of higher input costs in corrugated packaging and the improving performance in its office products wholesaling operations. Demand for corrugated packaging had slowed since the summer of 2007 and this had led to some softening of corrugated case materials prices across DS Smith’s markets; the strength of the euro provided a support to prices in the company’s important UK market, the statement said.
However, the company said it was preparing for a more challenging trading environment in 2008/09 although it had confidence that its good market positions provided a strong base from which to compete.
