David S Smith

Article Abstract:

David S Smith has invested in modern plant but faces competition from new capacity in mainland Europe and a rise in the value of pound sterling which cuts the cost of imported goods. Margins are under pressure in France. TriWall KK in Japan reported a loss but has long-term potential. The company acquired John Dickinson in Aug 1996 and this acquisition and Spicer's manufacturing activities are being integrated. David S Smith's profit is forecast to drop to 110 million pounds sterling for 1996 to 1997 but the company is in a good position to benefit from an upturn in the industry.

Paper and Paper Product Wholesalers, Paper & Products, Whsle, Paper and Paper Products, Paper products industry, Paper products wholesalers

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Paper and packaging

Article Abstract:

The paper and packaging sector has been hit by overcapacity, and United Kingdom companies have been hit by the strength of pound sterling. Stock prices for the sector have underperformed UK stock prices as a whole, and strong companies' stock prices have been affected as well as poor performers. Increased takeover activity would help the sector and produce groups that could compete world wide more effectively. The drop in stock prices may encourage takeovers since many companies are trading at less than their net asset value.

Industry Overview, Economic aspects

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David S Smith

Article Abstract:

David S. Smith performed well in 1995 despite changes in the price of board and paper. The company has been aided by investment and accounts for 68% of the UK market for corrugated packaging. This figure could increase to 75% according to Peter Williams, chief executive of the company. The company is acquiring a stake of 20% in TriWall KK and aims to use TriWall's distribution channels in the Far East for its own products. Papermaking is likely to see a drop in its contribution to profits.

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