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.
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