Rexam, the global consumer packaging company, has released a interim management statement for the period from 1 January (release). The firm reports that global can volume growth was lower than hoped for, at just three per cent, but this was compensated for by foreign exchange developments and cost savings.
Chief executive Graham Chipchase commented:
Overall financial performance was in line with our expectations. Although volume growth so far has been slower than anticipated, especially towards the end of the quarter, this was offset by foreign exchange translation benefits and cost savings. It is still early in the year, and the busy summer season traditionally influences our full year results. We continue to expect to make further progress in 2013 and remain on track to achieve our 15% return on capital employed target."