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Packaging company DS Smith said its expectations for its full-year financial performance remained unchanged, though it acknowledged that volumes were being impacted by economic uncertainty.
'The business continues to progress well despite, as expected, continued macro-economic uncertainty, and our expectations for overall financial performance remain unchanged,' the company said.
DS Smith said it had been able maintain 'strong pricing discipline, which combined with cost efficiencies and business wins in Europe and the US inspired confidence in the resilience of its business model.
That confidence came despite 'ongoing subdued volumes in some markets, in particular those economies with significant export-led market exposure, including Germany'.
'The underlying drivers of demand for sustainable corrugated packaging remain strong and our leading offerings for highly resilient FMCG and e-commerce customers give us confidence of volume and market share growth,' chief executive Miles Roberts said.
'While volatility in the macro-economic environment and input costs remains, our focus on pricing discipline, margin progression, enhanced cost and efficiency improvements, and cash generation, support our expectation of further good progress in the year.'