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Aluminium costs dent can maker Rexam's half-year profit
August 1, 2014 / 6:27 AM / 3 years ago

Aluminium costs dent can maker Rexam's half-year profit

Aug 1 (Reuters) - Rexam Plc, the world’s No. 2 drinks can maker by revenue, posted a 2 percent decline in underlying pretax profit for the first half of the year, hit by high aluminium premiums in Europe and a strong pound.

Underlying pretax profit fell to 166 million pounds ($280 million) for the six months ended June 30 from 169 million pounds a year earlier.

Revenue fell 5 percent to 1.88 billion pounds.

Analysts on average were expecting pretax profit of 156.6 million pounds on revenue of 1.85 billion pounds, according to Thomson Reuters I/B/E/S. ($1 = 0.5925 British Pounds) (Reporting by Aashika Jain in Bangalore; Editing by Robin Paxton)

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