REXAM, which makes packaging for everything from fizzy drinks cans to lipstick containers, reported a slight rise in first half profit after its beverage cans business helped to offset a weak performance at its healthcare arm.
The company, which makes about 57bn cans a year for brands like Red Bull and Carlsberg, said pre-tax profits from continuing operations rose one per cent to £207m in the six months to 30 June on sales up three per cent to £2.17m.
Beverage cans performed better than expected, with volumes increasing six per cent from the same period last year. But its healthcare business was impacted by one of its products coming off patent and a weak flu season in North America.
“We are encouraged by the progress of the continuing business in the first half and, in spite of a challenging trading environment, our overall performance was in line with our expectations”, chief executive Graham Chipchase said.
Results from continuing operations exclude the personal care business, which the company is selling in two parts for $709m.