Ball Corporation reported higher profits across its global operations in the second quarter, amplifying signs that the global beverage can market has rebounded from a post-pandemic slump.

The world’s largest canmaker by sales recorded double-digit profit growth in all markets. Its volumes rose globally, helped by a 6.5% increase in its European, Middle East and Africa (EMEA) business, which reflected a sharp performance turn-around by competitors as inflation in the region abated.

Ball’s operating profit in the three months to the end of June increased most in South America where it was up 23% year-on-year to US$37 million on sales of $422m. North and Central American profits were 20% higher at $210m on sales of $1.47 billion and in EMEA they were 15% higher at $113m on sales of $980m. Ball’s aerosol and other beverage can licencees, including in India, posted a profit increase of 19% to $360m.

The gains came amid volume growth of 3.2% in South America, 1.1% in the rest of the Americas and 5.6% among aerosols, bottles and aluminium cups.

Total sales fell 3.5% year-on-year in the quarter to $2.96 billion and net profit was 8% lower at $159m, the result of the company having accepted advance payments from customers at a time when aluminium costs were lower than the prices paid at the time of manufacturing. Aluminium prices on the London Metal Exchange had increased as much as 20% during the second quarter versus the third quarter last year.

First-half sales dropped 3.6% to $5.8bn and profits climbed 29% to $450m when the $3.4bn sale of Ball’s aerospace division, which was approved in the first quarter, is stripped out.

Ball’s strong figures track those reported last week by Crown and Ardagh Metal Packaging (AMP), which reported notable growth in Europe amid increased sales among soft drinks and beer producers. Coca-Cola reported higher sales and profits in the quarter, partly the result of promotions linked to major sporting events including the Paris Olympics. AMP said its European sales had been helped by customers stocking up for the Euro soccer championships in Germany.

The global beverage can market is recovering after rising inflation in the wake of the Covid pandemic suppressed consumer spending on canned products over the past two years. That followed a boom during the health crisis when virus mitigation measures closed public dining and drinking places, forcing consumers to buy canned food and drinks.

Ball said it had returned $790m to shareholders in buy backs and dividends, part of a plan to privatise $1.6bn of shares as part of efforts to shore up the company’s valuation.