Rexam says its financial position largely unchanged from that at Dec. 31, 2011, performance in Beverage Cans in line with plans, healthcare business trading slightly below year-ago period
May 3, 2012
– Rexam PLC, the global consumer packaging company, today issues its interim management statement for the period from 1 January 2012.
Results for the Group are in line with our expectations, and our financial position is largely unchanged from that at 31 December 2011.
Performance in Beverage Cans is in line with our plans. Volumes in our European business were driven by good growth in Western Europe and specialty cans partly offset by Russia where we saw a strong performance in the first quarter of last year. In North America we saw continued good performance in specialty 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.
Our 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.”