FTSE 100-listed packaging business DS Smith PLC (LSE:SMDS) delivered a bare-bones trading update this morning.
It stated that like-for-like corrugated box volumes in the third quarter “continues to improve compared with the first half of our financial year, with flat like-for-like volumes in the period since 1 November 2023”.
Chief executive Miles Roberts commented: "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."
There was no word on the ongoing merger discussion with Mondi PLC (LSE:MNDI) after the latter reportedly sweetened the deal on the first of this month.
Mondi has until tomorrow to publish a formal takeover bid. The group believes there is an "exciting opportunity" to be gleaned from the merger of the two major UK packaging firms.