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O-I buoyant following Q3 resultsnickmansley, 26 October 2007Be the first to comment on this article Owens-Illinois (O-I), the glass container group, has said it will enter 2008 “with greater financial flexibility” than it has enjoyed for some time after third-quarter profits soared.
O-I reported third-quarter net earnings of £570m (US$1.16bn) compared with £4.1m for the same period in 2006. The increase included a gain of £520m from the £890m sale of its plastics packaging business to Rexam in July, while O-I reduced total debt by £384m to £2.37bn. Net sales from continuing operations rose 12.2% to £940m (US$1.93bn) for the quarter ending 30 September. Speak Your Mind |
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