Jeremy Lancaster, Chairman of Rexam PLC, the global consumer packaging company, made the following statement at AGM:Following a highly successful performance last year, Rexam continues to trade well in 2003 and we anticipate that we shall meet expectations for the full year, albeit with a stronger performance in the second half than the first.We are seeing good sales and profit growth in Beverage Can Americas but our European beverage can volumes have been affected as a result of the introduction of a deposit on one way packaging in Germany.
However, seasonal demand and the introduction of a national recovery and recycling system are expected to improve the situation.
The integration of our newly acquired glass operations is progressing swiftly and smoothly, and the projected synergies are starting to come through.
Plastic Packaging is ahead of expectations with our Beauty Packaging operation showing further signs of recovery.
All in all, we remain confident about Rexams prospects for 2003.