July 17: Rising sales of food and beverage cans in Europe and Asia along with the pass through of higher raw material costs helped to boost the second-quarter results for world-leading canmaker Crown Holdings.
Although currency translations onto the weakening US dollar lifted its global sales by 10.4 percent to almost $2.2 billion and profit after tax by 9 percent to $99m compared to the same quarter in 2007, Crown was pleased that gross profit as a percentage of sales had increased from 14.4 percent to 16.0 percent.
“The results were above expectations,” said analyst Bank of America Securities.
