Amcor has released the financial result for the half year ended 31 December 2015, showing 6.6% increase in profit after tax compared to the first half of 2015.
In announcing the result, Amcor’s Managing Director & CEO, Mr Ron Delia said the business delivered an “outstanding first half result” with strong growth in earnings and returns underpinned by the success of its Flexible Packaging and Rigid Plastics segments.
“Earnings per share, on a constant currency basis increased 10.2% reflecting strong profit growth and the benefit of a US$500 million share buy-back completed during the period. Cash generation was solid and returns remained above 20%,” Mr Delia said.
“All Amcor business units performed well during the half year. The key drivers of strong earnings growth were higher volumes in both the Rigid Plastics and Tobacco Packaging business. There were also benefits from recent acquisitions and continued improvement in operating performance.”
Amcor has announced or completed six acquisitions in the USA, South Africa, Brazil, China and India since 30 June 2015, and Mr Delia believes these acquisitions are an important component of the company’s growth strategy aimed at delivering strong value for shareholders.
“Amcor has a strong foundation to build on, and an excellent track record of ongoing investment. Amcor is well positioned in an increasingly dynamic world and has substantial opportunities to leverage the existing portfolio to generate growth,” Mr Delia said, adding that the full year outlook is for higher earnings than the 2014/15 year, expressed in constant currency terms.