Rexam Q1 results meet target on strong healthcare volumes

05 May 2011 08:04  [Source: ICIS news]

SINGAPORE (ICIS)--Rexam’s first-quarter 2011 results are in line with expectations, supported by strong volumes and pricing in the healthcare unit of the firm’s plastic packaging business, the UK-based plastic packaging and beverage can company said on Thursday.

Rexam did not state any figures for its first-quarter financial results.

“We saw good volume and pricing in healthcare especially in prescription packaging,” it said in a statement.

In the personal care segment of the plastic packaging business, good growth in the high barrier food container business was more than offset by weakness in home and personal care and make up due to soft volumes and input cost inflation, it said.

“Although it is still early in the year, we are now more cautious on the trading outlook for plastic packaging,” the company said.

Overall performance in the company’s core beverage cans business “is somewhat better than we anticipated at this stage”, it said.

“Trading so far this year has been encouraging, and overall performance is comfortably in line with our plans,” said Graham Chipchase, Rexam’s CEO.

“However, it is still early in the year and the traditionally busy summer season will influence our full-year results. Our continued focus on return on capital employed, costs and cash generation gives us confidence of improved performance in 2011,” Chipchase added.

Read Paul Hodges’ Chemicals and the Economy blog

By: Nurluqman Suratman

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