Amcor (ASX:AMC), the global titan of consumer packaging, has reaffirmed its full-year outlook following a robust half-year performance bolstered by its $13 billion acquisition of US-based Berry Global.
Reporting its first-half results overnight, the group revealed that synergies from the landmark all-scrip merger—which united 400 plants and 75,000 employees—hit US$55 million, landing at the "upper end" of management's expectations.
Despite what CEO Peter Konieczny described as a "challenging volume environment" and "tough trading conditions," the company saw net income climb to US$439 million, up from US$354 million the previous year.
Revenue more than doubled to US$11.19 billion, reflecting the first full scale of the integrated Berry business.
Driven by disciplined execution and merger efficiencies, Amcor maintained its adjusted EPS guidance of US$4 to US$4.15, signaling a projected growth of 12% to 17% on a constant currency basis.