DS Smith posts 17.5pc profit lift

BRITISH packaging and office products firm DS Smith posted a 17.5 per cent rise in first-half pre-tax profit on strong volume and revenue growth at its recycled packaging business, and said it was upbeat about the second half.

The company, whose customers include Procter & Gamble and Nestle, also raised its interim dividend by a third to 2p a share.

For the six months to 31 October, pre-tax profit was £40.2m, compared with £34.2m last year.

Revenue grew 15 per cent to £1.17bn.