Rexam Plc forecast further progress in 2005, driven by acquisitions, as it posted a 26% rise in underlying annual profit on 25/02/05 that met forecasts "We continue to see excellent prospects for further organic growth & acquisitions for progress in 2005," said chairman R Borjesson. Rexam posted a pretax profit before exceptional items of £300M in 2004, on sales up 4% to £3.124BN. The average forecast was for £299M profit. Rexam has been turning its attention to emerging markets as growth opportunities in developed economies become scarcer. Rexam is looking for acquisition opportunities among companies around the world but would likely focus on trying to "get two feet on the ground instead of one" in countries where it has limited presence, such as Mexico, said Borjesson. Final dividend was set at £0.01009, making the total dividend 5.2% higher at EUR 0.01725.
