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Packaging And Design

Ardagh Group Posts 3% Revenue Increase In Q3 Financial Results

Ardagh Group has posted revenue of $2,390 million increased by 3%, in its third quarter financial results.

“In a period marked by high levels of cost inflation, third quarter earnings reflected strong growth in Metal Packaging Americas, with all parts of that business performing very well," said Paul Coulson, chairman and chief executive.

The groups adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) declined by 9%.

Growth In Glass

The Luxembourg-based producer of glass and metal products showed continued growth in glass container volume in Europe.

"In Europe, we recorded good growth in glass packaging during the quarter, while our metal packaging business was adversely impacted by a weak food harvest," Coulson added.

Looking Ahead

According to the financial results the group expects a full year adjusted EBITDA of approximately $1,450.

Coulson said: "In Glass Packaging North America, our footprint adjustments and other initiatives to rebuild profitability continued against a challenging market backdrop. We remain focused on cash generation and de-leveraging over the final quarter and into 2019.”

© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition. 

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