02.16.16
Amcor announces its results for the half-year ended Dec. 31, 2015. On a constant currency basis, earnings per share (EPS) was up 10.2% to 29.3 cents, and PAT was up 6.6% to US$342.6 million. The company reported profit after tax of US$305.5 million, including the negative translation impact from the higher US dollar of US$37 million.
Returns, measured as profit before interest and tax to average funds employed of 20.2%. Operating cash flow, after net capital expenditure, was US$101.9 million.
“The business delivered an outstanding first half result with strong growth in earnings and returns,” said Ron Delia, Amcor’s managing director and CEO. “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%.
“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 businesses. There were also benefits from recent acquisitions and continued improvement in operating performance,” Delia added.
“Since 30 June 2015, the business has announced or completed six acquisitions in the USA, South Africa, Brazil, China and India,” he reported. “This is an important component of Amcor’s growth strategy and we continue to find opportunities that deliver strong value for shareholders.
“Amcor has a strong foundation to build on, and an excellent track record of ongoing improvement. Amcor is well positioned in an increasingly dynamic world and has substantial opportunities to leverage the existing portfolio to generate growth.”
Commenting on the business performance, Delia said, “The Flexible Packaging segment delivered solid adjusted constant currency earnings growth of 6.1% and achieved returns of 24.6%. The key drivers of earnings growth were higher tobacco packaging volumes, benefits from prior period acquisitions and strong organic growth in emerging markets.
“The Rigid Plastics business had an outstanding half year with earnings up 10% and returns above 20%. 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,” he concluded.
Returns, measured as profit before interest and tax to average funds employed of 20.2%. Operating cash flow, after net capital expenditure, was US$101.9 million.
“The business delivered an outstanding first half result with strong growth in earnings and returns,” said Ron Delia, Amcor’s managing director and CEO. “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%.
“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 businesses. There were also benefits from recent acquisitions and continued improvement in operating performance,” Delia added.
“Since 30 June 2015, the business has announced or completed six acquisitions in the USA, South Africa, Brazil, China and India,” he reported. “This is an important component of Amcor’s growth strategy and we continue to find opportunities that deliver strong value for shareholders.
“Amcor has a strong foundation to build on, and an excellent track record of ongoing improvement. Amcor is well positioned in an increasingly dynamic world and has substantial opportunities to leverage the existing portfolio to generate growth.”
Commenting on the business performance, Delia said, “The Flexible Packaging segment delivered solid adjusted constant currency earnings growth of 6.1% and achieved returns of 24.6%. The key drivers of earnings growth were higher tobacco packaging volumes, benefits from prior period acquisitions and strong organic growth in emerging markets.
“The Rigid Plastics business had an outstanding half year with earnings up 10% and returns above 20%. 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,” he concluded.