Europe's largest drinks can maker Rexam
The British firm said on Wednesday it did not expect a turnaround in plastic packaging in the near term. It added that it had decided to hive off the under performing personal care segment of this business, but plans to retain the healthcare unit.
Rexam had said last November it was exploring all options for its personal care segment of its packaging business, including a sale.
The firm, which makes Red Bull and PepsiCo
The rise was driven by a 14 percent jump in underlying operating profit at Rexam's beverage cans unit, which now accounts for 81 percent of group profit. Operating profit at the company's plastic packaging unit, meanwhile, fell 14 percent hurt in part by higher costs.
Shares in the company closed at 384.4 pence on Tuesday, valuing the business at about 3.4 billion pounds.
(Reporting by Adveith Nair; Editing by Neil Maidment)