08.26.16
Amcor announced its results for the year ended June 30, 2016. Statutory profit for the year was $244.1 million. Profit after tax of $671.1 million, up 7.5% on a constant currency basis. Earnings per share (EPS) was up 11.3% to 57.7 cents on a constant currency basis. Returns, measured as profit before interest and tax to average funds employed, was 21.6%. Free cash flow was $311.2 million.
“Today, Amcor reported a strong full year result with growth in earnings, returns and cash flow delivered in a challenging macroeconomic environment,” said Ron Delia, Amcor’s managing director and CEO. “The defensiveness and resilience of our businesses was once again evident with balanced growth across the portfolio. Growth was solid in both developed and emerging markets, there was a mix of growth from organic sources and from acquisitions and both the flexibles and rigid plastics segments achieved higher results than the same period last year.
“Cash generation remained solid, the balance sheet is strong and returns exceeded 21% for the first time,” Delia added. “Amcor’s end markets are relatively defensive with most sales into the food, beverage and health care segments.
“The Flexible Packaging segment had a solid year with constant currency earnings growth of 7.2%,” he concluded. “The key drivers of earnings growth were higher tobacco packaging volumes, benefits from prior period acquisitions, excellent cost performance and strong organic growth in emerging markets. The Rigid Plastics business had an outstanding year with earnings up 9.7%. There was strong volume growth in the North American operations with higher volumes in all the main product segments, and continued earnings growth in Latin America.”
“Today, Amcor reported a strong full year result with growth in earnings, returns and cash flow delivered in a challenging macroeconomic environment,” said Ron Delia, Amcor’s managing director and CEO. “The defensiveness and resilience of our businesses was once again evident with balanced growth across the portfolio. Growth was solid in both developed and emerging markets, there was a mix of growth from organic sources and from acquisitions and both the flexibles and rigid plastics segments achieved higher results than the same period last year.
“Cash generation remained solid, the balance sheet is strong and returns exceeded 21% for the first time,” Delia added. “Amcor’s end markets are relatively defensive with most sales into the food, beverage and health care segments.
“The Flexible Packaging segment had a solid year with constant currency earnings growth of 7.2%,” he concluded. “The key drivers of earnings growth were higher tobacco packaging volumes, benefits from prior period acquisitions, excellent cost performance and strong organic growth in emerging markets. The Rigid Plastics business had an outstanding year with earnings up 9.7%. There was strong volume growth in the North American operations with higher volumes in all the main product segments, and continued earnings growth in Latin America.”