Beverage can sales boost Crown performance

July 18: Continuing growth in sales of beverage cans in Europe and North America helped increase turnover in the second quarter for Crown Holdings, the world’s leading canmaker.
Sales rose by 11.7 percent to US$1,990 million compared with the same quarter last year. Over the first six months of 2007, sales were up 12 percent to $3.7 billion.
Profits after tax exceeded analyst’s expectations at $88 million, or 54 cents per share.
Biggest contributor to the uplift was beverage can sales in Europe, where the market grew by 10 percent last year. Crown’s sales were up 18 percent to $401 million. In North America, where overall beverage can shipments have slipped from last year’s high, sales were up by 14.5 percent to reach $488 million.
Chief executive John Conway reported that margins had increased to 14.5 percent on beverage can sales in Europe. In North America, margins were 11.7 percent.

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