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).

Rexam, which makes cans for brands including Pepsi, Carlsberg and Red Bull, said sales for the period edged up 2% to GBP4.96bn.

"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.