DS Smith reaps millions from SCA Packaging integration
The firm confirmed the news as it announced its trading update for the three months to January 31.
In addition, the company said it had raised €55m through the completion of three disposals.
Overall, DS Smith Packaging reported a solid performance in its packaging business, particularly its legacy business, in its third financial quarter.
Paper segment
However, it said its performance in the paper segment continued to be poor and confirmed it would seek to "evaluate its options to reduce our exposure to this volatile business".
"Our business model remains resilient, with DS Smith well-placed to create further substantial value for our investors," said Miles Roberts, group chief executive.
"We are pleased with the continuing progress on the integration of SCA Packaging and the faster delivery of synergy benefits although we remain cautious about the outlook for Europe and expect the difficult market conditions to persist.
"We continue to focus on strengthening the business and our commercial proposition across a significantly enlarged geographic footprint and to look at how best to work with and serve our customers."
