Results for Rexam PLC are are in line with expectations, and the company’s financial position is largely unchanged from that at 31 December 2011, as confirmed by the interim management statement for the period from 1 January 2012.
Global consumer packaging company Rexam PLC has issued its interim management statement for the period from 1 January 2012.
Results for the Group are in line with expectations, and the company’s financial position is largely unchanged from that at 31 December 2011.
Performance in Beverage Cans is in line with plans. Volumes in Rexam’s European business were driven by good growth in Western Europe and speciality cans partly offset by Russia where strong performance was seen in the first quarter of last year. In North America Rexam saw continued good performance in speciality cans and the expected recovery of some of the standard can volumes lost in 2011, while the business in South America showed slight year on year volume growth.
The company’s Healthcare business is trading as expected, slightly below the equivalent period in 2011 primarily as a result of a product coming off patent, as previously indicated, and a weak flu season.
The process to divest the Personal Care business is progressing according to plan.
Graham Chipchase, Rexam’s Chief Executive said: “Trading so far this year has been as anticipated and overall performance is in line with our expectations. It is still early in the year and the busy summer season traditionally influences our full year results. The global economic outlook remains uncertain but, at this stage, we continue to expect 2012 to be another year of progress as we maintain our focus on cash, costs, and return on capital employed.”
A replay service of the conference call held on 3 May will be available until 17 May 2012 as follows:
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