Profit dips at Spicers parent


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 £40.2 million ($77.9 million), down from £43.5 million registered for the same period last year. Sales increased to £800.1 million, from £744.7 million.

The Spicers unit, meanwhile, said that profit was ahead of last year’s £7.2 million before a pension charge of £1.1 million took it down to £6.7 million. Sales fell slightly from £244.4 million to £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.