PIE - News-Ticker on Plasteurope.com

Sealed Air: Earnings improve as sales decline

US packaging materials producer Sealed Air (Saddle Brook, New Jersey; www.sealedair.com) increased its operating profit by 24% in 2009 to USD 492.3m and its net earnings by 36% to USD 244.3m, despite a 2% decline in sales to USD 4.2 bn. "Lower input costs combined with aggressive cost savings programmes and price/mix management yielded strong margin growth,” CEO William Hickey said in presenting results for the fourth quarter and the full-year.

For 2010, the company forecasts a "modest recovery of its end markets” and an increase of 4-6% in dollar-denominated sales. Growth is expected to be driven by developing regions.

More news on Plasteurope.com...