Rexam posts a loss for 2009

February 17: Declining beverage can volumes early in 2009 that failed to pick up later in the year along with restructuring and goodwill impairment costs contributed to Rexam making an after-tax loss of £29 million (US$45.3m) in the 12 months to the end of December.

Sales grew by 5.4 percent to £4.87 billion ($7.67bn), largely through currency exchanges. The loss compares with a net profit in 2008 of £171m ($270m).

Chief executive Graham Chipchase (pictured) vowed tight management of cash and to limit capital expenditure to below depreciation.(updated 18 Jan)

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