April 18, 2013 / 6:50 AM / 5 years ago

Rexam says beverage-can volume grew below its expectations

April 18 (Reuters) - Beverage-can maker Rexam Plc said can sales volume grew 3 percent in the first quarter, but was still slightly below its expectations due to weakness in Russia and a slow start to the year in the rest of western Europe.

The company, which makes cans for Coca-Cola, Red Bull and Carlsberg beer, said it expected 2013 to be another year of good progress.

Rexam had said in February that it expected a high-single-digit to low-double-digit sales growth in North America, as it was seeing a higher demand for speciality cans in the world’s largest beverage-can market.

The company said then that it had a 20 percent market share in North America, which accounts for about a third of its revenue.

Rexam also said on Thursday that its healthcare unit, which makes medical devices like bronchial inhalers, was trading as expected as growth in drug delivery devices and a good flu season offset volume weakness in its packaging business.

Shares of the FTSE-100 component closed at 506 pence on Wednesday on the London Stock Exchange.

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