Higher selling prices boost Silgan bottom line

July 24: North America’s leading specialist food can and global closure manufacturer Silgan Holdings has posted profits after tax for the second quarter up 24 percent to US$33.3 million compared to the same period last year.
Sales were also up by 7.6 percent to $735.3 million.
Silgan said the increase was primarily the result of higher average selling prices across all businesses largely attributable to the pass through of higher raw material and other manufacturing costs and favourable foreign currency translation, partially offset by lower unit volumes in the metal food and plastic container businesses.

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