Another fantastic result. Well done to the team from a very happy shareholder.
Amcor (NYSE:AMCR) up 4.3% in premarket, after it reported a 42.3% rise in FY statutory net profit to $612M, propelled by earnings from the acquisition of Bemis and continued strong demand for its products despite COVID-19.The company reported full year net sales of $12.5B, up substantially on the prior year on a statutory basis, but below consensus of $12.7B.Annual dividend was increased to $0.46, including quarterly dividend of $0.115 declared today, which translates to A$0.16 dividend, unfranked.It said Bemis' integration was well ahead of original expectations, with pre-tax synergy benefits of $80M. CEO Ron Delia said “we made excellent progress in this first year of integration, with cost synergies ~30% higher than original expectations and performance across the combined flexibles packaging business building momentum".In terms of guidance for the new financial year, Amcor forecast free cash flow of ~$$1-$1.1B, and EPS growth of 5-10%.
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$15.26 |
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