GLOBAL: Rexam Q1 sales lift below expectations

By | 19 April 2013

Rexam released an interim trading statement yesterday

Rexam released an interim trading statement yesterday

Rexam, the global can maker, has posted first quarter growth in volume sales despite underperformance in Russia and South America.

Beverage can sales by volume were up by 3% in the three months to March over the same period last year, Rexam said in an interim management statement yesterday (18 April). The London-headquartered firm added that the growth was lower than expected.

The company reported good volumes growth in North America, Scandinavia, Africa, Middle East and Asia but weakness in Russia, without giving details.

South America volumes were also weak, Rexam said.

Rexam CEO Graham Chipchase said: “It is still early in the year, and the busy summer season traditionally influences our full-year results.”

In February, Rexam announced plans to build a new GBP115m (US$175.6m) beverage can plant in Switzerland to meet global demand for energy drinks. 

Expert analysis

Rexam Plc in Packaging (World)

Rexam’s main business is metal beverage cans and it has a strong presence in both the beer and soft drinks categories. However following a tumultuous year, 2010 saw the company close plants in the USA, France and Russia in order to refinance its high debt levels. Going forward, Rexam is increasingly focused on the emerging markets. The company plans to invest over £200 million in developing sales and technology in the Latin American market.

Sectors: Beer & cider, Soft drinks, Spirits, Wine

Companies: Rexam

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