Rexam PLC said it sees flat profits for plastic packaging in the second half compared with H1 due to customer product launches in make-up not materialising as expected at the time of the August results.

However, Rexam said it sees no overall material effect on group profits for the year.

The consumer packaging company and beverage can maker said it is now initiating the necessary actions to reduce the cost base of its make-up operation, largely in South East Asia, resulting in a restructuring charge in 2006 of about 10 mln stg.

Source