27 May 1999: Shares in Rexam rose significantly after the film and packaging group said current trading suggested a “useful improvement in earnings per share for 1999”.
Chairman Jeremy Lancaster told…
27 May 1999: Shares in Rexam rose significantly after the film and packaging group said current trading suggested a “useful improvement in earnings per share for 1999”. Chairman Jeremy Lancaster told the annual meeting that PLM, the Swedish packaging rival which Rexam bought this year for just under UK 400 million, was performing well ahead of 1998. However, Rexam“s coated films and papers division had made a weak start to the year. Rexam, a former conglomerate that has been refocusing on consumer packaging, said it was seeking to improve its market position in beverage and food packaging, personal care products and coated films and paper. In March, it announced flat 1998 pre-tax profits of UK 182 million (UK 179 million), after exceptional charges and goodwill of UK 4 million (UK 11 million), on sales of UK 1.92 billion (UK 2.05 billion).