Amcor has announced that its sales revenue has increased for its fiscal 2016/17 financial results, seeing revenue growth of 3.4%. While sales revenue generated now stands at $9.42 billion, up from $9.10 billion in the same period last year.
The packaging firm has also posted that its more than doubled its full year profit from $244 million last year to $597 million. The company has attributed acquisitions and strategic restructuring as reasons for its growth.
Amcor chief executive officer Ron Delia said: “Amcor’s strong full year results reflect the progress we have made on our strategic investments and the benefits of our broad mix of geographic exposures.
“Balanced earnings growth from a variety of sources again demonstrated the resilience of Amcor’s business and management teams. Earnings were up strongly in both the flexibles and rigid plastics segments, driven by organic growth and acquisitions. Across developed markets, earnings grew at rates which exceeded overall market growth. In emerging markets, we delivered increased earnings in the face of difficult conditions in several countries.
“Important progress was made against our strategic priorities with investments in the Alusa and Sonoco acquisitions and the proactive restructuring initiatives in the Flexibles segment. We expect another strong year in 2018, with after tax earnings growth in constant currency terms and strong cash flow.”
© FoodBev Media Ltd 2020
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