Amcor announces 25 per cent profit increase

Packaging company Amcor announced a net profit increase of 25.1 per cent yesterday to $737 million, and
indicated that  acquisitions and emerging markets would be major
sources of future growth.

The Australian reports that emerging markets outweighed subdued results in
developed markets. Overall revenues totalled $10.85 billion.

Amcor is
Melbourne-based, but operates in 43 countries and sees only a 20th
of its overall revenue from Australia.

Fairfax
reports that Amcor is considering acquisitions totalling $3 billion. The company has made
four bolt-on acquisitions in the last year.

“We have a 20 per cent pre-tax return
on investment hurdle and we have to make sure the acquisitions we make are
going to create solid returns for shareholders,” Fairfax reports CEO Ken MacKenzie as saying.