News Column

Pound costs DS Smith a packet

June 27, 2014

Daily Mail, London



June 27--Recycled packaging maker DS Smith said results this year would be hit by a strong pound and the ongoing malaise in the European economy.

Shares in the firm fell 5.9pc or 18p to 287.3p -- making it the biggest faller on the FTSE 250 -- as the warning overshadowed a doubling of annual profits.

The firm generates about 65pc of its earnings in euros. The stronger the pound against the euro, the less it earns.

DS Smith said revenues rose 10pc to pounds sterling 4bn in the 12 months to 30 April while profits jumped from pounds sterling 82m to pounds sterling 167m.

___

(c)2014 Daily Mail (London, )

Visit the Daily Mail (London, ) at www.dailymail.co.uk/home/index.html

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Daily Mail (London, England)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters