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BUZZ-DS Smith: Q1 sales volumes spur stock rise

Reuters - UK Focus

** Recycled packaging maker DS Smith Plc (Other OTC: DITHF - news) 's shares up 5.8 pct.

** The company reported an improvement in its first quarter like-for-like corrugated box volumes in all its regions, with growth ahead of last year's rate.

** DS Smith, which reported a doubling in pretax profit for the year ended April 30, said outlook remained positive as volumes continue to grow, despite competitive market conditions.

** Investec (LSE: INVP.L - news) analysts maintained a "buy" rating on the stock, but reduced price target by 10 pence to 380 pence owing to market moves.

** The stock has fallen about 13 pct in its first quarter, and trades at a forward P/E ratio of 11.5 vs 14.5 of its peers.

(RM (LSE: RM.L - news) :aashika.jain.thomsonreuters.com@reuters.net)