First Impression: Amcor (AMC) FY16 Result
Divisional performance: Flexibles: revenue down 3.6% to US$6066m, PBIT down 2.2% to US$755.9m. Operating margin up 20bps to 12.3%. Robust year in Euro termsdespite AMC’s guidance of “modest” growth ie PBIT up 6% to €681m ( due to the absence of the c€6m of anticipated tobacco destocking in 2H16.); Rigids: revenue up 1.2% to US$3357m and PBIT up 9.7% to US$352.5m | Net operating cash flow up 9.7% to US$1099.4m.
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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.
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