Highlights
Beverage Cans volumes up 6% and organic operating profit up 5% to £456m
Healthcare operating profit down from £65m to £48m
Completion of Personal Care disposal and £395m being returned to shareholders
Return on capital employed (ROCE) of 14.7%, on track for 15% in 2013
Total dividend 15.2p up 6%
Commenting, Graham Chipchase, Rexam's chief executive, said:
"In 2012, we made further encouraging progress. Beverage Cans traded well driven by the global growth in specialty cans and a strong recovery in our market share in the US. We saw good growth in all our regions with volumes up 6% and organic operating profit increasing by 5%. We are continuing to invest in new lines and capacity to support our future growth. However, as previously highlighted, Healthcare had a difficult year largely due to one of our customer's products coming off patent.
Following the sale of the Personal Care business, £395m is being returned to shareholders, and we have raised the total dividend for the year by 6%.
We expect to make further progress in 2013 despite an uncertain macroeconomic environment and continued cost pressures. Further contractual gains in North America and continued growth in our European and South American beverage can businesses give us confidence we will achieve our 15% ROCE target."
