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Amcor's profit rises 16 per cent

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SYDNEY, Feb 18 AAP

February 18 2013, 08:48AM

Packaging company Amcor has increased its first half profit by 16 per cent and forecast growth in its underlying profit for the full financial year.

Amcor made a net profit of $238 million in the six months to December 31, up from $205 million in the same period the previous year.

The company on Monday said volumes in its key markets in developed countries were stable in the period, while volumes grew strongly in its emerging markets.

Profit growth also came despite the impact of the high Australian dollar on its earnings from overseas, which detracted $20 million from its profit, Amcor said.

"The outlook for the current year remains unchanged from the full year results in August," chief executive Ken MacKenzie said in a statement.

"It is expected Amcor will deliver another year of higher underlying profits in the current year."

Amcor's underlying profit in the six months to December of $322 million was up six per cent from the previous corresponding period.