Recognition of Ukrainian associate

RNS Number : 2003V

Smith (DS) PLC

09 January 2012

 



9 January 2012

Recognition of Ukrainian associate

DS Smith Plc has a 49.6% interest in the leading paper and packaging business in Ukraine, Rubezhansk. Rubezhansk has completed the signing of a revised 5-year loan agreement with its existing lender group, and accordingly, DS Smith will now be recognising its share of the profits and investment in this associate business, in the second half of this financial year.

In the year to 30 April 2011, Rubezhansk reported total revenues of £93.5 million and total profit after tax of £13.3 million. The increased interest costs agreed with its lenders will be reflected in the profit after tax in the current financial year.

Enquiries

DS Smith Plc                01628 583 400

Miles Roberts                Group Chief Executive

Steve Dryden                Group Finance Director

Rachel Stevens              Head of Investor Relations

Tulchan                       020 7353 4200

John Sunnucks

David Allchurch

James Macey White

 

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