Global packaging company Amcor profit up

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Global packaging company Amcor has reported a 15 per cent increase in statutory profit for the half year ended 31 December 2017.

The company said in a statement statutory profit for the half year ended 31 December 2017 was USD 329.7 million, while the figure profit after tax (PAT) of USD 329.7 million was up 3.7% on a constant currency basis.

Overall, the first half result were in line with expectations.

Amcor’s CEO Mr Ron Delia said: “During the half year we have grown earnings, expanded margins and maintained strong returns, with good progress on key investments. Cash flow and the balance sheet remain strong which, along with our confidence in the earnings growth capacity of the business, enabled the Board to increase the interim dividend by 8% to 21.0 US cents per share.

“The first half result was in line with the expectations we outlined at our AGM, and demonstrated the resilience and agility of Amcor in the context of short-term industry challenges related to raw material cost increases, weak volumes in one Rigid Plastics segment and mixed conditions in emerging markets.”