Thanks, P.K., everyone. and hello,
and key our a end focusing of up fiscal Beginning Flexibles QX geographies across X% volumes with number year, last growth were the Slide QX important segment markets. performance. and with solid XX all reflecting compared on on ongoing
Net X% unfavorable sales increasing X%, of growth, volumes. primarily also related higher to returned approximately care on to more health constant than lower comparable a offset by And currency price/mix volumes basis.
quarter, exiting second first America overall destocking is pharmaceuticals, segment approximately And the we in the As fiscal calls, care expected quarter, health earnings price/mix headwind behind in Compared believe X% to and North destocking now improved. the abated, us. volumes. resulted related care and headwind largely Europe destocking the discussed to see in of we which in to prior health and a continue
impact X%, were negative many regions, portfolio, regions and North both quarter and Across digits the volumes product of reflecting in care solid, with In demand demand up solid Europe, the balance despite categories. our destocking. of America Flexibles second across volumes mid-single remained in increasing health
mid-single-digit and and line across price/mix growth, strong across Top by in the was growth region, benefits demand strong Asia. volume reflecting supported Southeast Asian China
with Colombia offset by Latin and broadly demand In America, line with good in growth in in Argentina. Peru, were year's second volumes last quarter
meals digits. From coffee And a ready strong dairy, pet growth. low meat, health In returned to medical to showed were and and product care, growth. category mid-single standpoint, care up liquids premium
pharma be now mentioned a earlier, And is continue down However, low of year us. destocking. as result digits it behind with largely double I compared as volumes last to
constant leverage XX adjusted on up quarter basis. points basis XX.X%. a restructuring comparable of continued, margin strong from by Higher benefits margins for quarter Good the adjusted earnings X% with million another and performance volumes $XXX with to and led of the cost EBIT EBIT combined currency expansion, grew to
to the fourth for a Rigid year, XX. approximately Slide Rigid to up on and volume improved reflecting from The to overall X%, return volumes were offset quarter. last X% sales X%. Packaging by performance, its partly the volumes continues Net advance impact growth an business price/mix Turning consecutive approximately overall segment approximately of than of with unfavorable lower trajectory
the the variable consumer and customer business and expected, soft As demand quarter. North remains American through beverage in
quarter first marks percentage beverage improvement X volumes down digits, the While this points. an were of approximately mid-single on
growth partly last year, versus Colombia, were America including demand other in down Argentina Brazil. countries, was weaker Latin digits by and which in single volumes reflecting customer offset
and business volumes with health volumes -- containers year. were delivered in in specialty the than The And our strong in spirits, care in business beer, closures destocking. due higher to wine last growth down
an on an X.X%. and well of up growth measures. was on and constant XX executed to basis basis quarter productivity a in margin increasing the currency another benefits $XX comparable focus reflecting by of From EBIT perspective, million ongoing earnings business Adjusted expansion XX% from cost with margin EBIT points
of debt, we Finally, cash allocation, December, $XXX interest capital business, October. sheet and Bericap demonstrating our commitment were disciplined in which North XX. Slide to the we to balance of flow America reduce announced XX% sale our in which the completed in Proceeds closures the us used on million late back takes to
basis, back of of $XXX in better cash than net second quarter, the inflow On the includes million second of largely flow quarter, year's year-to-date more million, on last business million outflow $XX cash approximately improvements a capital. the which working in than a an generated $XX in
Stronger reduction last quarterly Bericap with of compared the net led cash a debt in from receipt of sale approximately to $XXX proceeds quarter. million flow and
we X.Xx, sequentially, in line coming the provided call. our improved also on Leverage October with in expectations which at is
the with to leverage second leverage at we expect through remain further year, exit expectation XXXX Xx half our fiscal meeting We and in or reduce of the confident to fiscal lower.
in months we quarterly the $XXX Through X through dividend. XXXX, approximately million of shareholders first to our fiscal cash returned
in year, our are brings remain deliver based on And to on performance as track earlier, we full guidance. on the half, to confidence reaffirming half first P.K. XX. our again This second the the mentioned me we and and for solid outlook our Slide
earnings $X.XX constant basis, For adjusted comparable to fiscal to X%. of currency expect a on 'XX, to continue to the X% growth share be $X.XX of in per we representing reported range
deliver for as build. to to business expect growth to underlying continues continue in earnings We momentum the strong the year
pointed compensation annual more out our expectations on normalized improved important to levels up of results. based for assumes it's the related incentive headwind previously, X% And to remember EPS as guidance we've an to that of financial
double-digit low to expect Excluding this we underlying business growth in mid-single normalization, the range. incentive from the
increase the We will to to year, mid-single-digit trading performance this with with assume through continue range overall line volumes for the in expectation. in low January
million, $XXX have We updated Bericap debt. $XXX modestly guidance the reflect interest the second to between to million our the half midpoint used lower to bringing the benefit related being to reduce in proceeds and
as Bericap lower the EPS relatively a of sale neutral, into of year the $XX account overall and the the EBIT is of approximately impact on of taking benefit And interest. annualized reminder, for million the loss
Our remains effective at unchanged rate to XX% range XX%. tax
XX% or our terms fiscal with year full the XX% fourth based the this half we with on aligned EPS and generating more historical XX% will being strongest phasing of of and range to EPS. the In of expect the through be typically year of quarter 'XX, second guidance average,
as finally, our earlier. in to at the with cash to $X leverage And of the back billion Xx strong supporting generate million range the year, we're I $XXX in confidence for free exiting year lower, flow our adjusted noted or affirming expectations
to growth pleased for the are our Berry. the business, we and our through combination have are opportunities the with we year. future we're in excited additional with our execution We outlook continued And underlying across confident about accelerate
So to P.K. I'll back with that, hand
