Crown reports strong results

Crown Holdings reported strong third quarter results with global beverage can unit volumes rising by three per cent.

For the three months to the end of September net sales were up 9.9% at US$2,423 million, mainly driven by the pass through of raw material costs. After tax profit was up five per cent at $396m, of which $14m came from currency translation.

Chairman and chief executive John Conway said that the increase in global beverage can sales was driven by continued strong demand in the emerging markets of Brazil and China.

He added: “We are pleased with our overall financial performance and solid execution in the third quarter. Comparable diluted earnings per share were up 19% despite a challenging macroeconomic environment, adverse weather conditions in North America and a cool summer across Europe.”