UK Packaging and office products supply firm DS Smith Plc, which includes Spicers, has reported a 39% increase for its fiscal-2008 pre-tax profit. Operating profit reached GBP 117.7 million in the year, up from GBP 79.6 million last year.

The company recorded revenue of GBP 1.968 billion in the year, an 11.4% growth over GBP 1.766 billion in the prior year period.

 

Wholesaling segment, Spicers, achieved 13% higher revenue of GBP 644.9 million, with particularly strong growth in the U.K and Italy. In Office Products Wholesaling, the company continues to rebuild profits in the U.K, while developing its existing continental European businesses.

 

The group said in the coming financial year it expects tougher trading conditions, reflecting difficulties in the world economies.

 

"We expect to partly offset the effect of this tougher trading environment through tight cost and cash discipline across all our operations and continued progress in our strengthened Packaging converting and Office Products Wholesaling businesses," it said.