DS Smith

Return to box growth; pending Mondi merger update

  • Sectors : Paper & Packaging
  • Companies : DS Smith

Ratings and price correct at time of issue.

  • DS Smith

    Closing Price: 320p

  • RATING 23/01/23

  • PREVIOUS RATING 03/04/19



DS Smith’s Q3 FY24 update indicates a return to positive (c.1%) like-for-like (LFL) box volume growth in February 2024. Our unchanged FY24E estimates of £701m adjusted EBIT and 33p adjusted EPS sit in-line with the street. While DS Smith did not comment on Mondi merger discussions, under UK takeover rules, Mondi is obligated to “put-up or shut-up” by 17:00 tomorrow (March 7th). Awaiting merger developments, we reaffirm our DS Smith ‘Outperform’ view

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Mar 6 2024, 12:30 GMT