Packaging products maker DS Smith said today that it had made plans for contingency stocking of spare parts as it readies for Britain's planned exit from the European Union.

But it said it expected disruption to its operations to be "relatively contained". 

The company, which makes corrugated cardboard, recycled paper and plastic packaging, posted a 31% rise in full-year adjusted pretax profit.

It said box volumes growth slowed due to previously flagged weakness in certain export markets during the second half of the year.  

"We saw some volume weakness in certain export-led markets in the second half of 2018/19, including Germany, but we expect this to improve during the current year," chief executive Miles Roberts said. 

The company raised its medium-term margin target to 10%-12%, after recording margins of 10.2% this year, beating its 8%-10% guidance range. 

DS Smith, which bought Spanish rival Europac for €1.9 billion last year, also raised its savings target from the deal to €70m from €50m. 

DS Smith supplies packaging products to companies including, fashion chain Next and brands such as Aldi, Tesco, Primark and IKEA.