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Ardagh Group Posts Revenue Increase Of 7% In Q3

By Steve Wynne-Jones
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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.

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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.

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