Rexam reports higher profit on beverage can sales
Aug 1 (Reuters) - Drinks can maker Rexam Plc said profit rose slightly for the first half as sales of beverage cans offset a fall in its healthcare business.
The company, which makes about 57 billion cans a year for brands like Red Bull, PepsiCo and Carlsberg, said pretax profit from continuing operations rose to 207 million pounds ($324.33 million) for January-June from 204 million pounds a year earlier.
Sales from continuing operations at the company, which also makes medical devices like bronchial inhalers, rose 3 percent to 2.17 billion pounds.
Global beverage can volumes rose 6 percent but the company reported a slight fall in sales at its healthcare business due to a weak flu season in North America and weaker pricing of one of its devices that delivers a drug due to come off patent next year.
Results from continuing operations exclude the personal care business, which the company is selling in two parts for $709 million.
Rexam shares closed at 434.5 pence on Tuesday on the London Stock Exchange. They have gained 23 percent so far this year.