Home > Amcor announces 25 per cent profit increase

Amcor announces 25 per cent profit increase

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Packaging company Amcor announced a net profit increase of 25.1 per cent yesterday to $737 million, and indicated that  acquisitions and emerging markets would be major sources of future growth.

The Australian reports that emerging markets outweighed subdued results in developed markets. Overall revenues totalled $10.85 billion.

Amcor is Melbourne-based, but operates in 43 countries and sees only a 20th of its overall revenue from Australia.

Fairfax reports that Amcor is considering acquisitions totalling $3 billion. The company has made four bolt-on acquisitions in the last year.

“We have a 20 per cent pre-tax return on investment hurdle and we have to make sure the acquisitions we make are going to create solid returns for shareholders,” Fairfax reports CEO Ken MacKenzie as saying.

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