PACKAGING company, Amcor, has released its interim profit results for six months ended 31 December 2009.
In its report, the company saw a 3 per cent increase in its profit after tax and before significant items of $172.5 million.
Amcor's managing director and CEO, Ken MacKenzie said he is pleased with the outcome given the economic conditions.
"Excellent management of costs across all the businesses helped offset the impact of lower volumes in some sectors and on a constant currency basis profit before interest and tax for the half was up 3.1 per cent," he said.
According to Amcor, the negative impact from translation of overseas earnings to Australian dollars on profit after tax and before significant items was negative $16.4 million.
"More than 80 per cent of our sales are into the food, beverage, healthcare and tobacco packaging segments and the defensive nature of these segments was evident during this period of economic weakness,” MacKenzie said.
Amcor also claimed the Australasian business performed well was due to the company's recent acquisition of Alcan Packaging.
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