Consumer packaging company Rexam saw underlying profits growth race ahead of sluggish sales growth on the back of a better than expected performance in its Beverage Cans business, primarily in Europe.
Underlying profit before tax rose 15% in 2011 to £450m from £390m in 2010, ahead of market expectations of £443m. Sales edged up 2% to £4,734m from £4,619m in 2010; the median forecast from the range of analysts covering the stock was for sales of £4,716m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for youConsumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator
