DS Smith shares saw 20 per cent rise in Spain
SHARES in packaging group DS Smith hit a 390½p high, up 14½p, as it delivered a 20 per cent rise in annual pre-tax profit and boosted its operations in Spain.
Spain will benefit economically from the success
The £3.5billion company boosted its hopes of promotion to the UK’s blue chip index as it overcame adverse currency movements to post profits of £200million on revenue of
£3.82billion.
It is forking out 190 million euros for Spanish company Grupo Lantero’s corrugated boxes business to increase its market share there to 10 per cent, its fifth deal in a year.