Packaging Products Maker DS Smith Sees Boost From Online Shopping Boom
DS Smith has said that that the boost from the holiday season to its packaging business continued into 2021, with more people shopping online, while there were also signs of recovery in demand from its industrial customers.
The cardboard maker, which supplies packaging products to Amazon, Nestlé and Unilever, also said it was expecting to deliver annual results in line with its expectations.
"We are seeing excellent demand from FMCG and e-commerce customers for our sustainable packaging products and solutions and we continue to invest for growth in these areas," chief executive officer Miles Roberts said.
DS Smith's major customers include e-commerce and consumer packaged goods companies, which are spending heavily on packaging materials to ensure their products are delivered safely and without any damage.
"While the economic environment remains uncertain due to COVID-19, we are experiencing good momentum across the business in both Europe and North America," Roberts added.
"We are confident in delivering results in line with our expectations for the year and showing further good progress and momentum as we move into the next financial year.”
In its trading statement, the FTSE-100 firm did not address reports on rival British firm Mondi talking with advisers over a possible takeover offer for the company.