LONDON (dpa-AFX) - DS Smith Plc (SMDS.L), a British packaging company, on Tuesday posted a rise in earnings for the fiscal 2021-22, amidst a rise in revenues, operating profit, and a decline in financing costs.
For the full year, the London-based firm reported a pre-tax income of 378 million pounds on reported basis, compared with 231 million pounds a year ago.
The company also recorded a profit of 280 million pounds or 20.3 pence per share on reported basis, compared with 194 million pounds or 14.1 pence per share of 2020-21.
Operating profit was at 443 million pounds on reported basis as against 311 million pounds, on year-on-year basis.
For the full year, net financing costs moved down to 72 million pounds, from last year's 85 million pounds.
Revenues for the full year rose to 7.241 billion pounds, from 5.976 billion pounds of previous year.
DS Smith also announced a final dividend of 10.2 pence per share, taking the total dividend for the year to 15 pence per share against last year's total dividend of 12.1 pence per share.
It will be paid on November 1 to the shareholders of record on October 7.
Looking ahead, for the fiscal 2022-23, Miles Roberts, Group CEO, said: 'We currently expect to see 2-4 per cent growth in our volumes, aided by our focus on resilient end markets, a strong performance in the US and the opening of new sites in regions where demand is buoyant.'
In addition, for the full year, the firm expects its capital expenditure to increase by around 20 percent to 500 million pounds.
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