7th Apr 2005 07:00
Rexam PLC07 April 2005 Rexam presents results for 2004 under IFRS Rexam, the global consumer packaging group and the world's largest beverage canmaker, announces its audited results under International Financial ReportingStandards (IFRS) for the year ended 31 December 2004. The full report, whichcontains detailed explanations of the IFRS and UK GAAP numbers and includes theauditors' reports, is available on the Rexam web site, www.rexam.com. The reportalso presents the unaudited results for the six months ended 30 June 2004 underIFRS as well as the audited financial position at 1 January 2005 followingadoption of IAS32 and IAS39. The full year 2004 results prepared on an IFRS basis and those under UK GAAP canbe summarised as follows: Underlying* IFRS UK GAAPOperating profit** £389m £385mProfit before tax £293m £300mEarnings per share 37.5p 38.2pStatutoryOperating profit** £371m £294mProfit before tax £278m £195mEarnings per share 36.8p 21.0p Consumer Packaging margin*** 12.6% 12.5%Shareholders' equity £894m £786m * IFRS: before exceptional items; UK GAAP: before goodwill amortisation andexceptional items. ** Excludes associates. *** Consumer Packaging comprises the Beverage Packaging and Plastic Packagingoperations. Graham Chipchase, Group Finance Director, commented: "The transition to IFRS hasgone well and we are pleased to present audited financial information wellwithin the timescale laid down by the EU. We have addressed not only thefinancial effect but also the impact on systems, people and processes. Aspreviously indicated in December 2004, the underlying profit and earnings pershare for 2004 under IFRS are not significantly different to those reportedunder UK GAAP." 7 April 2005 Enquiries Rexam PLC 020 7227 4100Graham Chipchase, Group Finance DirectorAshley Dolling, Group Chief AccountantAndrew Mills, Group Communications Director Financial Dynamics 020 7269 7291Richard Mountain Editors' notes: Rexam is one of the world's top five consumer packaging groups and the world'sleading beverage can maker. Its global operations focus on beverage packaging inmetal, glass and plastic, as well as plastic packaging solutions for the beauty,pharmaceutical and food industries around the world. The Group employs more than22,000 people in 24 countries worldwide and has an ongoing turnover ofapproximately £3.1 billion. Rexam is a member of the FTSE 100. Its ordinaryshares are listed with the UK Listing Authority and trade on the market forlisted securities on the London Stock Exchange under the symbol REX. For furtherinformation, visit Rexam's web site at www.rexam.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
REX.L