O-I has reported higher operating profits for Q3, 2013 in Europe and Asia Pacific, driven primarily by the benefits of ongoing footprint optimisation. Global volumes were down by around 1%, with wine gains in all regions more than offset by softness in beer markets. "The company performed in line with our expectations, notwithstanding weaker than expected demand" said Al Stroucken, Chairman and CEO. "We are squarely focused on execution, especially asset optimisation and wine share recovery in Europe, as well as labour productivity savings in N America. These actions are allowing us to achieve our targets despite headwinds." Net sales were US$ 1.78BN, similar to the same period 2012. Volume, in terms of tonnes shipped, decreased by 1% year-on-year. Unfavourable weather conditions in Europe and N America, as well as macroeconomic pressures in South America, led to lower beer volumes globally. This was partially offset by global gains in wine and double digit growth overall in S E Asia. A 2% increase in sales prices globally offset cost inflation.
