DS Smith PLC (LSE:SMDS)

£ 3.698 -0.046 (-1.23%) Market Cap: 5.10 Bil Enterprise Value: 7.12 Bil PE Ratio: 10.78 PB Ratio: 1.27 GF Score: 83/100

Q3 2023 DS Smith PLC Trading Statement Call Transcript

Mar 09, 2023 / 08:00AM GMT

Release Date Price: £3.27 (-4.75%)

Transcript

Operator

Hello, and welcome to the DS Smith Quarter 3 Trading Update. My name is Caroline, and I will be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions)

I will now hand over the call to your host, Mr. Miles Roberts, Chief Executive Officer, to begin today's conference. Thank you.

Miles William Roberts

DS Smith Plc - Group Chief Executive & Executive Director

Good morning, everybody. And firstly, thank you for joining us today. I'm Miles Roberts, the group's Chief Executive, and I'm joined by Adrian Marsh, our CFO.

Our statement today covers trading for the period since the 1st of November '22. But firstly, I'd like to start by saying that despite the volatile macroeconomic environment, performance remains in line. I'm really very pleased with the financial performance of the business with continued very strong profit growth and good cash generation.

We did see some destocking in December and January from our customers that resulted in a weaker Q3 in terms of volume than we saw in H1,

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