Packaging company Rexam's let down

New contracts in North America could not stop packaging company Rexam missing expectations for can volume growth since January.

It sold 3 per cent more cans than the same time in 2012, "slightly lower than expected". Growth in Scandinavia was wiped out by Russian weakness and a slow start to the year in the rest of western Europe.

But Rexam noted that foreign-exchange benefits and cost savings offset the financial impact, while the summer season also traditionally influences full-year results.