Rexams share price rose 12% to 280p its biggest one-day rise in a decade valuing the company at 1.11bn, after an interim pre-tax profit increase of 4% to 93m, which exceeded analysts expectations of a flat result.


Rexam, which sold its printing arm to John Mansfield (now Communisis), is focusing on consumer packaging, and is selling its engineering and coated films businesses. The identities of potential buyers were not disclosed.


The sales are both at the bidding stage, and once this is complete, 100% of the firms business will be in consumer packaging. No future acquisitions have yet been planned.


At present, 18% of sales are made from the UK, but director of corporate communications Per Erlandsson said he thought this would decrease. UK sales will diminish as we grow outside, he said.