Nip Impressions logo
Sun, Dec 16, 2018 13:45
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
DS Smith looking to sell plastics division

LONDON (From news reports) -- DS Smith Plc on Thursday reported a 32 percent jump in first-half adjusted operating profit as it sold more boxes at higher prices, and said it was exploring options for a potential sale of its plastics division.

The company said its board concluded that the unit is an attractive asset with good growth prospects. Three sources had said in October that a deal could be worth around $800 million.

DS Smith said sales at the plastics division, which makes up 6 percent of total revenue, rose 2 percent for the first half, adding that higher polymer prices and the lag in price recovery had hurt short-term profitability.

The company has been raising prices for its boxes to improve margins and offset higher pulp and paper costs. It supplies recyclable packaging material to companies including Amazon.com Inc, British fashion chain Next Plc and for brands such as Aldi, Tesco, Primark, Auchan and IKEA.

Adjusted operating profit from continuing operations rose to 304 million pounds ($386.4 million) for the six months to Oct. 31, from 231 million pounds a year earlier, the FTSE-100 firm said.

The acquisitions it made in North America helped add 32 million pounds to its profit. The 80-year old company entered the United States last year with an 80 percent stake buy in Interstate Resources for $920 million.

****

An empty desk isn't spinning the invoice printer--fill it at Onlypulpandpaperjobs.com
*****

Looking for your next career move? Onlypulpandpaperjobs.com is solely dedicated to the pulp & paper industry! [29.11.18]

****

Are you struggling to fill Maintenance Technician roles?


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: