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New records for can maker Rexam
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31/07/2008
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Drink cans and packaging giant Rexam has reported a strong operational and record financial performance for the six months to 30 June.
Sales rose 30% to £2.2 billion (£1.7bn) while pre-tax profits were 45% up at £141 million (£97m).
Commenting on the results, CEO Leslie Van de Walle (pictured) said they were ahead of expectations owing to good pricing, good cost recovery and further efficiency savings including synergies.
He went on: “Overall we saw continued robust growth in beverage cans and expect further margin improvement. The enlarged plastic packaging business continues to make good progress. Recognising the uncertainty of the economic climate and the increasing input cost pressure, we anticipate that trading in the second half will be in line with our original expectations, giving us a strong overall performance for the year."
Rexam said it had delivered a robust operational and financial performance despite the headwinds of challenging economic conditions across many of its markets and higher raw material and energy costs.
“As a Group, we reported another period of good sales growth which has come through in bottom line growth as we successfully reduced our exposure to the risk of aluminium price rises,” the company reported.
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Author
Ken Hurst
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