Ardagh Group Posts Revenue Increase Of 7% In Q3
Packaging giant Ardagh Group has posted a 7% rise in revenue (at constant currency rates) for the third quarter of the year.
The firm posted revenue of €1.461 billion for the quarter, with its Glass Packaging division accounting for €849 million. Its European Glass Packaging operation saw its revenue rise by 3% at constant currency levels.
The group's Metal Packaging division accounted for €612 million.
EBITDA of €277 million for the period represented an increase of 15% over the same period in 2014.
In the report, Ardagh stated that it was pulling a planned IPO of its Metal Packaging business, the process of which has been underway since June.
It said that the 'current IPO market conditions in the US are challenging and, as a result, it does not believe that it would be wise to seek to access the equity markets at this point in time'.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.