DS Smith Full Year Profit Surges

posted a 20 percent increase in its pretax profit for fiscal 2015. DS Smith's pretax profit for the year climbed to 200 million pounds ($315.42 million), from GBP167 million, in the year-ago period. Excluding items, the company's pre-tax profit jumped to 251 million pounds from 208 million pounds. EPS rose to 16.4 pence from 14.9 pence. Its revenue slipped to GBP3.82 billion from GBP4.04 billion. DS Smith's board proposed a final dividend of 7.7 pence per share. The company also reported that it has acquired the corrugated business of Grupo Lantero. DS Smith's chief executive Miles Roberts said, "This has been another good year for DS Smith. In a fast changing retail and consumer environment, packaging is more relevant than ever. The progress in the business with customers is evidenced by accelerating volume growth, together with increased margins and returns, from our unique and enhanced offering."