(Alliance News) - DS Smith PLC said on Thursday that its performance since December is driving "significant improvements" in profitability during the second half of financial 2022.
The London-based packaging business said it is on track to deliver a boost to profitability during the second half of the year ending April 30, as expected, bringing it closer to meeting its medium-term targets.
The FTSE-100 company also said it has submitted a climate roadmap for verification to the Science Based Targets initiative, to align its operations with the goal to limit global temperature increases to 1.5 Celsius, as set out in the Paris Climate Agreement.
DS Smith said it is accelerating its reduction of carbon emissions, by committing to a 46% reduction in green house gases by 2030, compared to 2019 levels. This will keep it in line with its prior commitment to net-zero carbon emissions by 2050, as a member of United Nations Race to Zero initiative.
Wouter van Tol, head of Government, Community Affairs & Sustainability, said: "Following COP26, there has never been a more crucial time for businesses to demonstrate how they are supporting the fight against global warming. DS Smith is uniquely positioned to help its customers through the delivery of circular solutions and today's announcement will enable us to do that with even more impact."
The packaging company's share price was up 0.6% at 384.64 pence each in London on Thursday morning. DS Smith is holding a seminar for analysts and investors on Thursday afternoon.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Smith (DS) (SMDS)