Profit after tax was $737.0 million, up 24.6%. Earnings per share (EPS) was 61.1 cents, up 24.7%. On a constant currency basis, EPS was up 9.2%. Operating cash flow after net capital expenditure of $890.6 million. Net cash from operating activities was $1,171.0 million; and the annual dividend of 43.0 cents per share, up 26.5%.
“The full year result represents another period of higher profits and returns. Earnings per share, for the continuing operations, increased 24.7% to 61.1 cents per share and the dividend increased 26.5% to 43.0 cents per share,” Ken MacKenzie, Amcor’s managing director and CEO, said. “On a constant currency basis, earnings per share increased 9.2%.The key drivers of higher earnings were the benefits from recent acquisitions, ongoing growth in emerging markets and continued improvement in operating performance.
“Over the past 12 months, there have been a number of exciting developments,” MacKenzie added. “We recently announced a new breakthrough technology called LiquiForm, which will transform the rigid plastic container industry, and is an outstanding example of how Amcor is translating its deep understanding of the needs of customers and consumers into new and improved ways of operating.
“We are building a new greenfield tobacco packaging plant in Indonesia to support our growth in that market,” MacKenzie noted. “This is an exciting development that continues to build on our successful emerging market position. Acquistions remain a key component of our growth strategy going forward and over the past year we announced Flexible Packaging acquisitions in China, Australia, Indonesia and India. These acquisitions enhance our ability to create value for our customers and improves our unique global footprint.”
Commenting on business segment performance, MacKenzie said, “The Flexible Packaging segment had a solid performance with earnings up 7.1% in constant currency terms and record returns of 24.3%. The operating sales margin increased from 11.6% to 12.1%, which is an outstanding achievement and reflects innovation driven product mix improvements and ongoing strong growth in emerging markets. The Rigid Plastics group had a solid year with higher earnings and returns. The business benefited from continued growth in Latin America and strong improvement in the Diversified Products division from new higher value-add products. The outlook for the 2014/15 year is for higher earnings.”