Amcor (AMC) - FY15 result in line and expects higher earnings in FY16
Amcor's divisional performance saw flexibles revenue up 4.7% to €5232m and PBIT up 8% to €652m; operating margin 12.3%. Rigids revenue was up 3.9% to US$3317m and PBIT up 8% to US$321.3m, net operating cash flow down 4.8% to US$778.4m. AMC expects to deliver constant FX growth in FY16, although given the prevailing economic environment and the emerging market slowdown (TSR this year may be at the lower end of the groups 10-15% target range (12.7% in FY15). Read our full summary here: (VIEW LINK)
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Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.