Page 8 - Packaging News Magazine Sep-Oct 2019

8
NEWS
www.packagingnews.com.au September-October 2019
TOP CLICKS
1LABELMAKERS BUYS LE MAC Labelmakers Group is set to acquire the country’s biggest linerless labels producer, Le Mac 2Australia. (See story page 10)
PACT GROUP POSTS $290M LOSS
Pact Group has cited the drought, weaker demand from the agri and food &
beverage sectors, and higher raw material and energy costs as contributing to its FY19 loss.
3(See story opposite page)
DELIVEROO MOVES ON SUSTAINABLE PACKAGING Food delivery service Deliveroo has partnered with BioPak and reusable
packaging startup Returnr to replace single-use takeaway packaging with
4sustainable solutions.
JAMESTRONG OPENS $15M FACILITY
Global metal packaging manufacturer Jamestrong opened a new $15 million,
future-proofed, can making facility in Auckland, catering to the burgeoning infant formula
5market. (See story page 50)
AUSTRALIA LEADS WORLD IN SUSTAINABLEPACKAGING The Australian packaging industry is one of the most advanced in the world
when it comes to sustainable realignment; this was the clear conclusion from a Europeantour.(Seepage26)
6JIM’S BOTTLER BURNED TO GROUND
Packaging business Jim's Bottler has been razed in a seven-hour fire that led to local residents being told
to stay indoors and toxic smoke covering sections of western Sydney.
Orora numbers all rise
TOP STORIES FROM THE PACKAGING NEWS WEBSITE PACKAGINGNEWS.COM.AU
FULL year results for Orora have grown with underlying net profit after tax (NPAT) up 4 per cent to $217m, earnings before interest and tax (EBIT) 3.7 per cent higher to $335.2m, and earnings per share (EPS) up 3.7 per cent to 18 cents per share.
Commenting on Orora’s re- sult, managing director and CEO, Nigel Garrard, said: “Oro- ra has delivered another year of
earnings growth, with underly- ing NPAT, EBIT and EPS all higher, despite challenging eco- nomic and market conditions, particularly in North America.
“The positive result under- lines the value of Orora’s portfo- lio of businesses, serving estab- lished market segments and spread across geographies in Australasia and North America, with solid profit growth in Aus-
Positive result: Nigel Garrard.
tralasia helping to offset lower earnings from North America.
Garrard said the company has been proactive in respond- ing to the “challenging market conditions” by completing a group-wide restructuring pro- gramme, which resulted in recording a significant item ex- pense after tax of $20.8m.
This initiative impacts both Australasia and North Ameri- ca and aims to drive efficiency, as well as reset the cost base to better match expected market conditions.
“In terms of the segment results, the Australasian Fi- bre and Beverage businesses continue to demonstrate strength and resilience, with revenue growth and earnings benefits from a continued focus on operating efficiency and investments in assets and innovation driving profit growth, despite further input cost pressure,” he said. ■
Amcor sales and profits up
AMCOR saw its sales and profits for the full year all rise in constant currency terms, but take a hit in real terms thanks to adverse currency fluctua- tions, as CEO Ron Delia declared it the “global leader in consumable packaging”.
Net sales rose by 1.5 per cent to $9.46bn, or 5.5 per cent in constant currency; EBITDA rose marginally up by 0.3 per cent to $1.39bn, though in con- stantcurrencytermsitwasup by4.1percent.Netincome rose by 4.6 per cent to $729.5m, which is up a healthy nine per cent in constant currency.
Flexibles sales were up by half a per cent or 5.4 per cent in constant currency to $6.57bn, with an adjusted EBIT rising by 2 per cent to $817.2m, or 6.7 per cent in constant currency.
The Rigids division saw its
figures all rise, although again was impacted by ad- verse currency changes, with sales up by 3.8 per cent to $2.89bn, which is 5.4 per cent in constant currency, while adjusted EBIT rose by 3.3 per cent, or 4.8 per cent in con- stant currency terms.
In the Asia-Pacific region, sales were higher than last year in constant curren- cy, terms mainly driven by growth across the emerging markets. The company said operating and overhead cost performance
across the re- gion was sig- nificantly better than
last year, and included benefits from prior period cost savings initiatives.
Sales generated from spe- cialty folding carton products were higher than the prior year in constant currency terms, with "good growth" ex-
perienced in the Asia and Americas.
Amcor confirmed the all-stock Bemis acquisi- tion, completed 11 June,
willdeliver$180mofpre- taxcostsynergiesover
three years. ■
Amcor the global leader in consumer
packaging: CEO Ron
Delia.