October 16: Sales at world leading canmaking company Crown Holdings in the third quarter surged ahead by 10 percent over the same period last year, reaching US$2.37 billion. Profit before tax was up by 21.2 percent to $378 million while net profit was up 22.6 percent to $114m.
The sales increase, which reflects a year-long gain for the Philadelphia-based metal packaging manufacturer, was primarily due to unit volume growth in beverage and food cans, and the pass-through of higher raw material costs in the form of higher selling prices.
“We continued to build on the momentum from the first half of the year with an outstanding third quarter,” said chief executive John Conway. “The continuation of improved results was driven by volume growth and margin expansion across our global beverage and food can businesses.
