Rexam, the global consumer packaging company, announces its results for the full year 2013.
|
|
2013 |
|
2012 restated |
|
Change |
|
Continuing operations underlying performance |
|
|
|
|
|
|
Sales (£m) |
3,943 |
|
3,885 |
|
1% |
|
Underlying operating profit (£m) |
449 |
|
448 |
|
0% |
|
Underlying profit before tax (£m) |
372 |
|
358 |
|
4% |
|
Underlying earnings per share (pence) |
35.3 |
|
31.2 |
|
13% |
|
Total operations6 |
|
|
|
|
|
|
Total underlying earnings per share (pence) |
40.6 |
|
36.6 |
|
11% |
|
Total dividend per share (pence) |
17.4p |
|
15.2p |
|
14% |
Highlights
· Underlying profit before tax up 4%
· Underlying earnings per share up 13%
· Return on capital employed 15.5% (2012: 14.5%)
· Sale of the majority of Healthcare agreed for $805m with £450m of proceeds to be returned to shareholders
· Total dividend up 14% to 17.4p
Commenting, Graham Chipchase, Rexam's chief executive, said:
"We are pleased to have achieved our 15% ROCE target. We also grew 2013 profits by 4% and have proposed a 14% increase in the dividend to 17.4p. It has been a great team effort.
"The acquisition of a majority stake in UAC expands our footprint in the Middle East, while our investment in Magnaparva Packaging demonstrates our intent to pursue transformational innovation opportunities.
"Rexam is now a focused beverage can maker, and our aim is to be the best in the industry. The work that we have done to restructure our company means that we are in good shape operationally. In 2014, despite an uncertain macroeconomic environment and some continued cost volatility, we expect to make further progress on a constant currency basis. We remain committed to managing what we can control and focusing on cash, cost and return on capital employed as we pursue our strategy of balancing growth and returns."
