Amcor grows by 6+%
The packaging giant's flexibles segment reports a good half year with adjusted constanct currency PBIT (profits before interests and taxes) up 6.1%, This increase is mostly due to higher demand in the tobacco business.
The EMEA (Europe, Middle East, Africa) business is mainly producing for snacks, confectionery, cheese, yoghurt, fresh produce, beverages, pet food, etc reports sales and earnings to be higher than in the prior year, especially in Eastern Europe.
The Americas business produces for the medical industry as well as for fresh produce, snacks, and personal care. According to Amcor, the business performed well, despite the fact that there was some weakness in the medical segment. It has been pointed out that there is a trend towards high barrier packaging, especially in packaging for organic, fresh and additive free products.
The business in Asia Pacific performed well against a backdrop of challenging economical coniditions in some key markets. In Singapore, India and Indonesia, Amcor has achieved a strong volume growth.
Amcors business is expected to deliver modest constant currency earnings growth in the 2015/16.