Otor, which was acquired by DS Smith in a £205m deal this time last year, was credited for its contribution to like-for-like revenue growth of 13% across the group and like-for-like volume growth of 3% in corrugated packaging.

DS Smith said that trading had also benefitted from the progressive delivery of previously announced cost synergies of €13m (£11.4m) in relation to Otor, as well as its group procurement and UK efficiency savings, which are on track to deliver £6m cost savings in 2011/12.

The disposal of Spicers, the group's wholesale office stationery business which is being sold to Unipapel for £200m, was reported to be continuing to plan, while trading at the subsidiary was said to be "satisfactory" during the quarter.

Meanwhile, customer take-up of DS Smith's proprietary corrugated product R-Flute was reported to be "very good" in the UK, with growing demand also coming from France, where R-Flute is now being manufactured at two of the former Otor, now DS Smith Packaging France, sites.

The group said it expected to make further progress towards its medium-term financial objectives of margin improvement, return on capital and cash generation, in the current financial year.

Management remained confident in the group's strategy of focusing on FMCG customers, due to the "resilient demand" for consumer goods, which reduces volatility in demand for DS Smith products.