Packaging firm DS Smith has reported a 11% increase in revenue at constant currency levels in its full-year to 30 April 2023.
The UK-based cardboard maker reported revenue of £8.22 billion (€9.54 billion) for the year, while adjusted operating profit stood at £861 million (€999 million), which was 35% higher than the previous year.
"The performance of the business during the year has been excellent, despite the challenging economic environment, and I am extremely proud of all our colleagues for their dedication and support," commented Miles Roberts, DS Smith chief executive.
Environmental Achievements
The group said that it has made a number of notable environmental achievements, including replacing 762 million units of plastic with recyclable alternatives since 2020/21, and achieving a 15% reduction in Scope 1, 2, and 3 greenhouse gas emissions since 2019/20.
At the same time, it has also maintained an "unremitting focus" on meeting its customers needs with a range of new innovations, Roberts added.
"This, together with high levels of service and our sustainability performance, has been rewarded through market share gains during the period," he said.
Portugal Investment
In April, DS Smith announced a €145 million investment scheme for the enhancement of its kraft paper mill located in Viana, Portugal.
As part of this plan, the company will reconstruct its current paper machine and introduce a state-of-the-art recovery boiler. DS Smith said that the implementation of this boiler will contribute to a significant improvement in the mill's environmental impact.
