Dec 14, 2009. /Lesprom Network/. Packaging and office products supplier DS Smith said revenue fell to GBP 1.018 billion ($1.65 billion) in the half-year to end-October, down from GBP 1.102 billion ($1.8 billion) in the prior year period, IBTimes reported. Operating profit fell to GBP 48.5 million ($78.7 million) from GBP 54.4 million ($88.3 million) and profit before tax slipped to GBP 34.7 million ($56.3 million) from GBP 44.1 million ($71.6 million) last year. The group reported free cash flow of GBP 33.7 million ($54.7 million), up from GBP 21.2 million ($34.4 million). The group said its Packaging division had an operating profit of GBP 44.1 million ($71.6 million); the performance supported by good market positions in more robust sectors. The Office Products Wholesaling - Spicers business had an operating profit of GBP 4.4 million ($7.1 million). The effects of the economic downturn were mitigated by growth in market share. The group's action programme to reduce costs substantially will deliver the planned GBP 26 million ($42.2 million) of savings in the current financial year. Group CEO, Tony Thorne, said: “Trading conditions remain uncertain. Building on a relatively good first half, we now expect to exceed the expectations we had for the full-year at the time we released our pre-close trading statement in October. However, second half performance will be dependant on the level of demand in the new calendar year and the speed of our recovery of the significant cost increases within our supply chain.”