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Crown Holdings records 21% rise in third-quarter profitliz.wells@haymarket.com, 16 October 2008Be the first to comment on this article Crown Holdings, the global packaging group, has reported that its third-quarter gross profit rose by 21% to $312m (180.6m), driven by the strong performance of its beverage and food can businesses. The company’s net sales increased by to $2.4bn in the quarter ended 30 September, compared with $2.2bn in the third quarter of 2007. John W. Conway, chairman and chief executive, said: “We continued to build on the momentum from the first half of the year with an outstanding third quarter. The continuation of improved results was driven by volume growth and margin expansion across our global beverage and food can businesses. “In addition, unit volume demand and profitability were firm in our global aerosols businesses. Our results demonstrate the value of our diverse global portfolio.” The company said its sales had benefited from a favourable foreign currency exchange and its ability to pass on higher raw material costs to selling prices. Speak Your Mind |
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