APTARGROUP
Cost focus and efficiency improvements lift full-year 2015 income / Record Q4 earnings / Pharma business sees strong demand
A focus on containing costs has helped lift 2015 annual revenues for US dispensing systems manufacturer AptarGroup (Crystal Lake, Illinois; www.aptargroup.com). Reported income before taxes of nearly USD 295m for the year ended 31 December 2015, was 3% higher than 2014. However, reported sales declined by 11% to around USD 2.3 bn.
The group reported record fourth-quarter earnings as a result of operational improvements across its three business units of Beauty and Home, Pharma, and Food and Beverage, though reported sales fell by 9% to USD 547m.
President and CEO Stephen Hagge said the personal care market remained soft and beverage sales were negatively impacted by lower seasonal demand in the final quarter of 2015. In contrast, the pharma business saw strong demand from the prescription drug and injectables markets, which offset weak demand from consumer healthcare. He commented: “While we continued to benefit from lower input costs, we also remained focused on containing costs and improving operating efficiencies across each segment.”
Hagge added that 2015 was a challenging year with sluggish macroeconomic conditions and foreign currency headwinds. Looking ahead, he did not anticipate significant changes in the macroeconomic environment and said the company would remain flexible to adapt to changing market conditions with a continued focus on containing costs.
The group reported record fourth-quarter earnings as a result of operational improvements across its three business units of Beauty and Home, Pharma, and Food and Beverage, though reported sales fell by 9% to USD 547m.
President and CEO Stephen Hagge said the personal care market remained soft and beverage sales were negatively impacted by lower seasonal demand in the final quarter of 2015. In contrast, the pharma business saw strong demand from the prescription drug and injectables markets, which offset weak demand from consumer healthcare. He commented: “While we continued to benefit from lower input costs, we also remained focused on containing costs and improving operating efficiencies across each segment.”
Hagge added that 2015 was a challenging year with sluggish macroeconomic conditions and foreign currency headwinds. Looking ahead, he did not anticipate significant changes in the macroeconomic environment and said the company would remain flexible to adapt to changing market conditions with a continued focus on containing costs.
11.02.2016 Plasteurope.com [233310-0]
Published on 11.02.2016