LONDON (dpa-AFX) - DS Smith Plc (SMDS.L), a British packaging company, on Thursday said in a pre-close statement that its trading for the year ending on April 30 is in line with its expectations.
For the fiscal 2022, the London-based company expects adjusted operating earnings of 605 million pounds - 615 million pounds.
However, due to ongoing war in Ukraine and its impact, the company is impairing its investment in the country and expects one-off non-cash charge of around 30 million pounds for the fiscal 2022.
For the fiscal 2021, the Group's investment in Ukraine had contributed 4 million pounds in earnings after tax.
Miles Roberts, CEO of DS Smith, said: We have seen continued good momentum across our customer base, with volumes from our FMCG customers growing particularly well, underpinned by consistently high levels of service and product quality. Within Europe our Eastern and Southern regions have performed ahead of the Group average, and in the US we are seeing the benefit of the Indiana site contributing to further very strong volume growth in the region.'
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