Rexam PLC, (REXMY.PK,REX.L), a global consumer packaging company, Thursday reported a decline in the volume growth of its Beverage Cans division, while the Healthcare division saw a increase in its drug delivery devices for the First Quarter. However, the overall trading is in line with the expectations of the company, the company said in a statement.
For the three-month period, the global can volume growth of 3 percent was lower than what the company expected. This was offset by the foreign exchange benefits and cost savings of the company. Volume Growth in Beverage Cans was driven by anticipated contractual gains in North America, and in South America, the volumes saw a dip due to unfavorable mix. Europe saw a mixed growth, with Scandinavia reporting higher volumes, but Russia and western Europe experienced a weaker trading.
Though the Healthcare business faced pricing pressures and volume weakness, there was increase in drug delivery devices and a good flu season added on to the growth.
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