Chief executive Miles Roberts said the firm's impressive performance came against 'another year of volatile trading conditions where we have worked through the tail-end of the pandemic and, more recently, the tragic events of the Russian invasion of Ukraine'.

"Our commitment is to the relentless fight against illegal deforestation and the promotion of net zero deforestation," it said, noting "net zero" deforestation plans would include restoration of degraded areas.

Revenues at the packaging business climbed by £1.5billion at constant currency levels in the year ending 30 April, with over 80 per cent of the rise attributed to higher selling prices for boxes, paper and recycling.

The Amazon founder first became a billionaire in 1998, the year after