UK: Rexam profits climb in 2010
Drinks packaging giant Rexam has recorded an increase in full-year profits and said it remains focused on making investments in 2011.
For the 12 months to the end of December, underlying profits before tax climbed by 45% to GBP412m (US$670m). Operating profits amounted to GBP535m, a 20% increase on the prior year, the firm reported today (23 February).
"In 2010 we delivered record profits and cash flow...and significantly strengthened our balance sheet," said Rexam chief executive, Graham Chipchase. "Going forward, we will remain focused on increasing our return on capital, optimising cash and controlling costs, while making disciplined investments to improve our growth and returns over time."
Chipchase added that he expects 2011 to "be a year of continued progress".
Click here to view the full earnings release.
Carlsberg has halved its guidance for profits growth in 2011, after a weaker-than-expected performance in Russia damaged the brewer in the first half of the year....
- Comment - Diageo Spins the Guinness Wheel... Again
- Diageo's Labels Give Industry Something to Digest
- Comment - 'Craft' and the Danger of 'Romance Copy'
- Is A-B InBev/SABMiller 'Mega-Merger' Off?
- Who should Stock Spirits Acquire?
- Diageo lines up UK innovations push
- Craft is an 'abused' term - Pernod Ricard exec
- Pernod Ricard queries nutritional label use
- SPI Group 'disappointed' over Stolichnaya ruling
- Diageo's Guinness Golden Ale
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Champagne: Less Than Bubbly
- Beer Market Insights Africa 2014
- ALDI 2015: Radically transforming Anglo Saxon grocery markets