Huge drop in 1Q profits for French packaging company

- Last updated on GMT

Related tags: Aluminium, Income, Pechiney

French aluminium and packaging group, Pechiney, saw a 61 per cent
fall in first-quarter profits yet remains confident about prospects
of achieving stable earnings over the full year.

French aluminium and packaging group, Pechiney, saw a 61 per cent fall in first-quarter profits but said it was confident of achieving stable earnings over the full year, reports the Financial Times​.

Net income for the period fell from €96m in the same period last year to €37m on flat turnover of €2.8billion, the paper reports.

The lower profits were attributed to continuing weak aluminium prices, which have been hit by lower demand for the metal following the September 11 attacks on the US.

Pechiney is currently aiming to improve the performance of its core aluminium smelting and processing operations while at the same time expanding the speciality packaging business.

Related topics: Processing & Packaging

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