DS Smith to profit from stake in Ukraine firm
DS Smith, the recycled packaging company, is about to receive a tidy sum as a result of its 49.6% interest in Rubezhansk, the leading paper and packaging business in the Ukraine.
DS Smith, the recycled packaging company, is about to receive a tidy sum as a result of its 49.6% interest in Rubezhansk, the leading paper and packaging business in the Ukraine.
Rubezhansk has completed the signing of a revised 5-year loan agreement with its existing lender group and as a result DS Smith will now be recognising its share of the profits and investment in this associate business, in the second half of this financial year.
In the year to 30 April 2011, Rubezhansk reported total revenues of £93.5m and total profit after tax of £13.3m. The increased interest costs agreed with its lenders will be reflected in the profit after tax in the current financial year, DS Smith said.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price rose 0.45% to 198.9p by 08:39.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
David Ellison: America's new media mogul
David Ellison is building a mighty new force in old and new media. Critics worry that he will prove to be a Trumpian patsy. Is that fair?
-
Investors have overlooked some of China’s best growth stocks
Opinion Dale Nicholls, portfolio manager, Fidelity China Special Situations, highlights three Chinese businesses where he’d put his money