DS Smith Plc is a holding company engaged in the supply of recycled packaging for consumer goods. The Company provides corrugated packaging solutions throughout Europe as well as plastic packaging solutions worldwide. In order to support corrugated packaging operations. The Company has a recycling business that collects used paper and corrugated cardboard, from which the Company’s paper manufacturing facilities make the recycled paper used in corrugated packaging. DS Smith also design and manufacture certain types of plastic packaging. The Plastics business comprises two elements, flexible packaging and dispensing (FP&D) and returnable transit packaging (RTP). The FP&D business in the US has had a very good year, delivering good profit growth as the business has seen continued success of its Trutap product and of tea-urn liners. In the European FP&D business, it has been a year of investment, with a substantial reorganization in its European operations.