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UK: 2006 proves challenging for Rexam

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UK-based can maker Rexam has posted flat income for 2006.

The global consumer packaging company said today (20 February that underlying operating profit for last year rose only 1% to GBP410m (US$798.9m), Sales, meanwhile, rose by 17% year-on-year to GBP3.6bn. Rexam maintained, however, that it had enjoyed market share gains in the US and saw strong demand in Europe and South America.

"After many years of sustained profit growth, external forces conspired to create a challenging 2006 for us, but swift and decisive management action enabled us to deliver a resilient performance," said company chairman Rolf Börjesson.

The company is gearing up for price increases this year, but warned that the continuing high aluminium and other input costs, together with a weaker US dollar, "are likely to counteract any progress in 2007, with the impact of the input costs expected to be most severe in the earlier part of the year".

Rexam also noted that it will unveil "significant capital investment" in 2007, which should show positive results in 2008.


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

Companies: Rexam

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