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Amcor has a solid start ot the year
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Amcor announced today that profit after tax for the three months to September 30 was up 4%.
The result reflects continuing improvements across a number of the operating businesses and the benefits from substantial rationalisation and restructuring undertaken over the past two years.
Profit after tax reported in Australian dollars was negatively impacted by the higher Australian dollar which averaged 66 cents against the US dollar for the first quarter this year compared to 55 cents last year. This had the effect of reducing the profit after tax for the quarter by 6%.
As the year progresses, the quarter on quarter impact of the higher Australian dollar should decrease significantly delivering substantial improvements in the quarterly comparisons.
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October 30th, 2003
Source: Amcor |
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