Trade Resources Industry Trends The Beverage Can Specialist Today Posted a 1% Year-on-Year Increase in Sales

The Beverage Can Specialist Today Posted a 1% Year-on-Year Increase in Sales

The beverage can specialist today posted a 1% year-on-year increase in sales for the first half of 2013, at £1.97bn, while pre-tax profit slipped 2% to £169m.

The London-based group said that global growth in beverage can volumes were up just 1%, reflecting what it called a "challenging trading environment".

However, the group said there had been "considerable interest" in its Healthcare business that was put up for sale at the end of June.

The business represents some 10% of Rexam's sales and is the latest division to be put up for sale; in recent years it has moved to concentrate on its cans business with deals including the sale of its personal care and cosmetics arm to Albéa and its closures business to Berry Plastics.

The figures also come at the end of a period in which Rexam has brought a number of innovations to the market including thermochromic can ends, which indicate the temperature of the drink, and photochromic inks which react to daylight.

In this morning's statement, Graham Chipchase, Rexam chief executive (pictured above), said: ?"It has been a challenging first half against a difficult macroeconomic backdrop.

"However, we have responded swiftly by accelerating our cost mitigation measures and maintaining our capital discipline.

"We continue to expect our full year performance to show improvement over 2012.

"Operationally the business is performing well and the consistent delivery of our efficiency targets demonstrates our commitment to operational excellence.

"We are continuing to invest for the future and, in addition to a strong innovation pipeline, are seeking to expand our existing footprint in emerging markets to support the sustainable growth of the business."

Source: http://www.packagingnews.co.uk/news/rexam-reports-considerable-interest-in-healthcare-arm/
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Rexam Reports & Considerable Interest in Healthcare Arm