Yesterday, Amcor reported its half-year 2012 results. Profit after tax before significant items of $322.0 million, rose to 5.7%.
In announcing the result, Amcor’s Managing Director and CEO, Mr Ken MacKenzie said: “The first half result represents another period of higher underlying profits, returns and dividends.“Earnings per share before significant items increased 7.2% to 26.7 cents per share and the dividend increased 8.3% to 19.5 cents per share.
“The high Australian dollar meant that the translation of overseas earnings into Australian dollars, for reporting purposes, had an adverse impact on profit after tax of $20 million. On a constant currency basis, earnings per share increased by 14.1%.
“The result again highlights the defensive nature of our businesses. Volumes across a number of the key market segments in developed countries continued to be stable and there was strong volume growth in emerging markets.”
In a statement in the report, the company also said: "Earnings for the half were lower due to a reduction in earnings at the recycled cartonboard mill in Petrie, Queensland. Due to several structural changes in the competitive environment the mill is no longer covering its cash costs."
The mill employs 160 people.
