UK: Rexam gets FY fillip from US "recovery"
- FY group underlying pre-tax profits up by 1% to GBP418m (US$640.1m)
- Beverage can unit organic operating profits rises by 5% to GBP456m
- Sales of cans lift by 2.6% to GBP3.9bn
- Can volumes up by 6%
Rexam said a recovery in the US has helped its full-year
Rexam has been boosted in its full-year by a lift in volumes and profits in its beverage can unit, helped by a "strong recovery" in the US.
Organic operating profits in its beverage can business in the 12 months to the end of December were up by 5% to GBP456m (US$698.3m), the UK based group said today (20 February). Sales of cans were up by 2.6% in the period to GBP3.9bn.
Volumes of beverage cans rose by 6%, the company said.
For the group as a whole, which includes a healthcare unit, underlying pre-tax profits slid by 1% to GBP418m.
“Beverage cans traded well, driven by the global growth in specialty cans and a strong recovery in our market share in the US. We saw good growth in all our regions,” said group chief executive Graham Chipchase.
Looking ahead, he added: “We are continuing to invest in new lines and capacity to support our future growth.”
For the company's official statement, click here
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