9 December 2004 – London (UK): DS Smith has reported a dip in its operating profit for the six months to 31 October.
Spicers’ parent company posted operating income of Â£40.2 million ($77.9 million), down from Â£43.5 million registered for the same period last year. Sales increased to Â£800.1 million, from Â£744.7 million.
The Spicers unit, meanwhile, said that profit was ahead of last year’s Â£7.2 million before a pension charge of Â£1.1 million took it down to Â£6.7 million. Sales fell slightly from Â£244.4 million to Â£240 million. The wholesaler said that consumption of office products across Europe had been slightly firmer in recent months, although prices continue to be under pressure.