The packaging manufacturer reported a 'substantial increase' in sales for the second quarter
German packaging manufacturer Gerresheimer has reported a “substantial increase” in sales for the second quarter. Revenues in the second quarter of 2014 rose 2.6% on the prior-year quarter to reach €335.4m – 6% at constant exchange rates. Net income grew 70% to €20.8m.
However, in the Primary Packaging Glass Division, which produces primary packaging glass for cosmetics and medicine, revenues fell 0.6%, compared to the prior-year quarter, to €158m, although adjusted EBITDA for the division rose 7.7% to €33.7m.
For the rest of the year, the company said profitability is likely to show good ongoing growth as a result of combining sales and distribution activities under its new organisational structure, with the strongest growth likely to be in emerging markets.
“In the cosmetics segment, we anticipate a good operating environment on average after the mixed start to the year and thus expect to achieve a slight increase in revenues with glass cosmetics products,” the firm said.