Amcor positioned for growth after record six months

- Amcor is well positioned to deliver continued earnings growth after record start to 2-12-13 financial year

 

- Amcor supporting customer growth in emerging markets

 

Global packaging company Amcor is ‘well positioned to deliver continued earnings growth’ underpinned by ‘acquisitions, and our focus on innovation and emerging markets’, according to chief executive officer Ken MacKenzie.

 

Amcor recorded a record profit result in the six months to December 31, 2012, with profit after tax and before significant items of US$322 million, up 5.7 percent. Profit after tax and significant items was US$238.3 million, up 16.3 percent.

 

The flexible packaging segment had a strong result with profit up 14.3 percent. The business benefited from continued volume growth in emerging markets and the successful integration of the Aperio and Aluprint acquisitions.

 

MacKenzie, who also serves as managing director, said: ‘The result again highlights the defensive nature of our businesses. Volumes across a number of the key market segments in developed countries continued to be stable and there was strong volume growth in emerging markets.’

 

MacKenzie continued: ‘Amcor is well positioned to deliver continued earnings growth.

 

‘This growth is underpinned by the benefits from the new recycled paper mill at Botany, further acquisitions, and our focus on innovation and emerging markets.’

 

Amcor has recently announced a deal to acquire select printing assets of AGI-Shorewood’s tobacco packaging and specialty folding carton operations in South Korea, the US, Mexico and China.

 

‘In emerging markets, Amcor continues to support our customer’s growth. These regions represent more than 20 percent of our sales and have delivered strong growth in earnings and returns over an extended period,’ MacKenzie said.

 

‘All these growth initiatives are underpinned by a strong and growing cash flow.

 

‘This is an exciting time for Amcor. The outlook for the current year remains unchanged from the full year results in August. It is expected Amcor will deliver another year of higher underlying profits in the current year.’

 

Read more on Amcor here

Read more about opportunities in emerging markets here