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Artenius profits dropped by more than two thirds

May 11/2012

(polyestertime) -- Profits dropped by more than two thirds at Artenius PET Packaging UK (APPE) in 2011 as the
container maker was hit by decreased sales volumes and shrinking margins.

APPE supplies containers and preforms to the food and beverage sector and to the personal care and healthcare sector. Despite turnover increasing from GBR164.5m to GBR170.8m in the year to 31 December 2011, APPE reported pre-tax profit of GBR2.4m, down from GBR8.5m in 2010.

The company said the increased turnover reflected the high price of PET (polyethylene terephthalate) resin but underlying volumes declined. Overall sales volumes fell by 13 %.

"2011 was a challenging year, arising from the current difficult economic situation and in particular, the significant increase in raw materials prices," said Chris Brown, APPE's business unit director for UK & Ireland.

APPE is part of Catalan parent group La Seda de Barcelona
Author:Anna Larionova
Tags:PET, packaging.
Category:General News
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