DS Smith’s Share Price Dipped 1.18% on Latest Q3 FY ’24 Update

The DS Smith plc (LON: SMDS) share price dipped 1.18% after issuing an update on its performance in the third quarter of fiscal 2024. The company provided an update on its trading activities for the period starting on November 1, 2023.  

The company is a prominent player in the packaging industry. Despite the obstacles posed by a challenging market landscape, DS Smith has demonstrated a robust performance, showcasing the resilience and adaptability of its business operations.

In this latest trading period, DS Smith has observed a notable improvement in its like-for-like corrugated box volume performance compared to the initial half of the financial year. This period has witnessed stable volumes on a like-for-like basis, signalling a positive trend in the company's core operations.

The North American and Eastern European markets have experienced commendable growth during the quarter. This positive development, however, was somewhat counterbalanced by a slight dip in performance in the Northern European region.

DS Smith continues to prioritise strategies that ensure resilient pricing structures, operational efficiency, and stringent cost management. The company is also preparing for anticipated increases in containerboard prices, which are expected to be subsequently mirrored in the packaging prices. 

DS Smith remains confident in its strategic direction and operational capabilities. The overall trading performance and the company's projections for the remainder of the year align with management's expectations. 

DS Smith's commitment to maintaining its competitive edge through proactive market engagement, cost optimisation, and innovative solutions is evident in its steady performance amidst ongoing market challenges.

As DS Smith navigates through the evolving landscape of the packaging industry, it continues to leverage its extensive expertise and strategic initiatives to sustain growth, enhance operational efficiency, and deliver value to stakeholders. 

The company's ability to adapt to market dynamics and its focus on sustainable, customer-centric solutions positions DS Smith favourably for continued success in the future. 

DS Smith’s Group Chief Executive Miles Roberts said: “I am pleased with a continuing resilient performance, despite tough economic conditions. Our strong customer relationships, quality and service has led to a number of recent FMCG customer contract wins, underpinning our confidence in the outlook for volume growth going forward. While markets remain challenging, we continue to focus on providing value-added solutions to our customers and on driving operational efficiency and cost control across the Group and view the future with confidence.”

DS Smith share price. 

The DS Smith share price dipped 1.18% to trade at 318.25p from Tuesday’s closing price of 322.05p.