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Article: Australia's Amcor boosts profit, slows dealmaking
- Article from:
- AP Worldstream
- Article date:
- August 22, 2002
- Author:
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Dateline: MELBOURNE, Australia
Amcor Ltd., the world's third-largest packaging company, said annual
net profit jumped to 280.5 million Australian dollars (dlrs 150.4
million US) but predicted that its multibillion dollar acquisition
spree is on hold.
The 17.8 percent increase in 2001-02 earnings easily beat market forecasts
for a result around 262 million Australian dollars (dlrs 141 million)
that had anticipated higher interest charges.
A key player in the North American, Australian and European consumer
product packaging markets, Amcor also flagged further strong profit
growth with contributions from newer assets such as Germany's Schmalbach-
Lubeca.
Managing ...