Full year pre-tax profit down 11.9 per cent at Rexam

Pre-tax profit fell 11.9 per cent in the full year to December 31st at FTSE 100-listed consumer packaging company Rexam.

Pre-tax profit fell 11.9 per cent in the full year to December 31st at FTSE 100-listed consumer packaging company Rexam.

A difficult year in the healthcare products packaging section weighed on the results, with healthcare operating profit down 26.3% to £48m.

By contrast, beverage can volumes rose 6% and organic operating profit increased 5% to £456m.

Overall, sales increased 2% to £4,312m. Underlying profit before tax rose 1% to £418m and underlying earnings per share jumped 5% to 35.5.

The dividend per share rose 6% to 15.2p.

Graham Chipchase, Chief Executive Officer of Rexam, commented on the results, saying: "In 2012, we made further encouraging progress. Beverage cans traded well driven by the global growth in specialty cans and a strong recovery in our market share in the US.

"We saw good growth in all our regions with volumes up 6% and organic operating profit increasing by 5%. We are continuing to invest in new lines and capacity to support our future growth. However, as previously highlighted, healthcare had a difficult year largely due to one of our customer's products coming off patent."

MF

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