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)

To continue reading,
please login or subscribe to The Canmaker

Recent Articles