DS Smith PLC (LSE:SMDS)

£ 4.26 0.04 (0.95%) Market Cap: 5.88 Bil Enterprise Value: 8.14 Bil PE Ratio: 15.27 PB Ratio: 1.49 GF Score: 72/100

Half Year 2020 DS Smith PLC Earnings Call Transcript

Dec 05, 2019 / 09:00AM GMT

Release Date Price: £3.52 (-7.15%)

Transcript

Miles W. Roberts

DS Smith Plc - Group Chief Executive & Executive Director

Very good. Well, hopefully, everybody is ready. So firstly, thank you very much, everybody, for your time to come here and join myself. I'm Miles Roberts, I'm joined by Adrian Marsh, our Finance Director, and to discuss -- to present the results for the 6 months to the end of October, our first half of our current financial year.

So firstly, we're pleased with the performance. We've seen record profitability and a record margin for the group. If we split that down, we've seen that Europe has grown very nicely organically. Good margin progression. And Europac has been excellent. We're very pleased with the first contribution from the Europac business and the integration, et cetera. And we'll talk more about that.

In the U.S., the domestic market has remained very good for us. Seems we've run out a bit of capacity there. But we're solving that with our new plant, which is now fully operational. It's come on on the 1st -- at the beginning of November, and that gives us a 30% capacity improvement.

The

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