Preliminary Results 2001/02 2001/02 FULL YEAR RESULTSDS Smith Plc (LSE:SMDS), the international packaging manufacturer and office products wholesaler, announces its preliminary results for the year to 30 April 2002. KEY POINTS
* before exceptional items and amortisation of intangibles Commenting on the full year results and outlook, Chairman Antony Hichens said: "I am pleased to report that our largest activity, Packaging, made good progress and it was disappointing that this was more than offset by lower profits in Office Products. The emphasis on cash management throughout the Group resulted in a significantly higher cash flow compared with the previous year. "Looking ahead, we expect the decisive actions taken to improve performance in Office Products to result in a measure of recovery in this activity in 2002/03. Conditions in many of the Group’s markets remain uncertain and, in particular, rising recovered paper prices are currently squeezing paper margins. Nevertheless, I am confident that the steps we have taken to raise operational performance across the Group provide a sound basis for progress in the coming year." Click on a document title below for further information:
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