Highlights
Global beverage can volume growth 1% reflecting a challenging trading environment
Underlying profit before tax (including Healthcare) £192m in line with market consensus
Return on capital employed 13.7% (H1 2012: 13.8%)
Process to divest Healthcare under way
Interim dividend up 14% to 5.7p
Commenting, Graham Chipchase, Rexam's chief executive, said:
"It has been a challenging first half against a difficult macroeconomic backdrop. However, we have responded swiftly by accelerating our cost mitigation measures and maintaining our capital discipline. We continue to expect our full year performance to show improvement over 2012.
"Operationally the business is performing well and the consistent delivery of our efficiency targets demonstrates our commitment to operational excellence. We are continuing to invest for the future and, in addition to a strong innovation pipeline, are seeking to expand our existing footprint in emerging markets to support the sustainable growth of the business.
"We continue with our proven strategy of optimising cash, managing costs and driving return on capital employed. Our ROCE target remains 15%, and we are committed to maintaining returns around that level as we take advantage of the opportunities to grow the business and maximise shareholder value."
