Amcor Ltd (ASX:AMC) says its annual profit has fallen by 14 per cent to $183 million amid difficult economic conditions, though expects strong growth ahead.
The packaging company says profit after tax and before significant items increased 13.5 per cent to $409.2 million, advising the negative impact of a strong Australian dollar was around $58 million.
Managing Director and CEO Ken MacKenzie says the highlight of the year was exceptionally strong cash flow of $566.8 million, adding, that the integration of the recently acquired Alcan Packaging and Ball Plastics Packaging businesses is progressing well.
A few weeks ago Amcor secured Ball Plastics for US$280 million.
A final unfranked dividend of 17 cents per share has been declared, taking the total dividends for the year to 29.5 cents.
Amcor Ltd reported a profit of $211.7 million for the year to 30 June 2009.
AMC Price at posting:
$5.96 Sentiment: None Disclosure: Held
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