DESPITE MC Packaging recently announcing declining interim results, its potential is still encouraging.
MC Packaging makes two-piece aluminium cans and three-piece tin containers for Hong Kong and China.
It registered a 3.8 per cent sales drop to $375 million in the first half of 1993 owing to declining sales of two-piece aluminium beverage cans.
Sales of two-piece cans were affected by a slowdown in business from major local customers and by shark-attack fears, which discouraged consumption on local beaches in May and June.
However, the three-piece can and plastic bottle divisions recorded growth. Operating profit for the first half of the year fell 10 per cent to $44 million.
If the $10 million exceptional profit from disposal of staff quarters in the 1992 results had been excluded, profit from underlying manufacturing activities for the first six months of 1993 would have expanded 13 per cent.
However, the company will benefit from a strong demand in China market for beverage cans.