Markets

Shares in Ardagh Metal Packaging fall 10% as weak European demand leads to losses

The company posted a $56 million loss in the fourth quarter of 2023 contributing to a $50 million decline for the full year.

Paul Coulson stepped down as chairman of the Ardagh Group in November. Picture: Jason Clarke Photography

Shares in Ardagh Metal Packaging dropped almost 10 per cent on Thursday after It reported a $56 million (€51.7 million) loss in the final three months of 2023.

Investors dumped the New York listed company, which is majority owned by Paul Coulson’s Ardagh Group, leaving shares trading at $3.56 per share, down 9.4 per cent.

The slump came after the firm, which makes containers for brands such as Heineken and Perrier, saw its profit drop ...