“Interim figures were in line with our expectations with organic volume growth of 2.2 per cent, which was ahead of the group’s target of one per cent above GDP. It remains on track to deliver the remaining €60m of savings over the next 18 months. We are not changing our forecasts for this year.
RICHARD CURR PRIME MARKETS
“Investors would be missing a trick by ignoring this firm, which has delivered spectacular profits and revenue growth in the face of widely-acknowledged headwinds this year. Those who snapped the stock up will now be benefiting from a 40 per cent gain and a 28 per cent dividend hike.
HUGO MILLS CITI
“DS Smith’s results, as expected, showed solid execution with volumes tracking ahead of management’s target and earnings margins progressing well. The results were slightly ahead of expectations, but the macro recovery and paper price outlook remain uncertain.