You can set your watch by the sheer consistency of Amcor...

You can set your watch by the sheer consistency of Amcor results.

This particular result once again demonstrates:

1.  the sheer resilience of the business model, and
2.  what a sensational acquisition that Bemis acquisition is turning out to be.

Of course, by now these attributes will be known the market, but what I don't think the market has quite realised is the emergence of something of which I've only seen evidence in the past two or three results (only marginally before, but quite meaningfully in this result), and that is the emergence of pricing power.

Before, when input prices rose, AMC was forced to accept the bulk of this as a hit to operating margins.

But listening to the company's management present in recent times, I hear increasing reference to flexing price lists strategies to recover rising raw material costs.  

That wasn't possible to do 4 or 5 years ago.

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