Jun 29, 2006. /Lesprom Network/. DS Smith Plc announces its results for the year ended 30 April 2006. In 2005-2006 company’s revenue totalled GBP 1.7 billion ($3.1 billion) versus GBP 1.6 billion ($2.9 billion) in 2004-2005. Profit before tax amounted to GBP 11.0 million ($19.9 million) versus GBP 64.3 million ($116.6 million) year earlier. Commenting on the results, chairman, Antony Hichens said: “As indicated at the time of our trading update in April, the group’s results were significantly affected by the further rise in energy costs and stronger competition in the UK office products wholesaling market. However, our strategic actions have strengthened the group: we closed uneconomic capacity; sold two non-core businesses; improved our product mix; and further developed our presence in continental Europe. We are achieving box price increases, but so far they have been insufficient to recover fully the input cost rises incurred through the supply chain. Based on current forward energy market prices, we anticipate the increase in our underlying energy costs in 2006/07 will be somewhat higher than the GBP 10 million ($18.1 million) that we indicated at the time of our trading update in April. In office products wholesaling, we expect our actions to result in improved performance in the second half of the year.” DS Smith Plc is an international group focused on two major activities - packaging and office products. The group employs approximately 11 900 people, of whom 7 500 are located in the UK. In the 2004/05 financial year the group recorded a turnover of GBP 1.6 billion ($2.9 billion), of which 60% derived from UK operations.