Strong business performance continues
Orora today announced another strong operating result for the full year ended 30 June 2017, delivering double-digit underlying NPAT, EBIT and EPS growth for the third consecutive year.
A summary of Orora’s underlying operating results included:
- Net profit after tax (NPAT), excluding significant items, was up 14.4% to $186.2 million
- Underlying earnings before interest and tax (EBIT) was $302.3 million, up 11.1%
- Sales revenue was up 4.9% to $4,039.1 million
- Earnings per share, excluding significant items, was 14.6% higher to 15.6 cents
Commenting on the result, Orora Managing Director and CEO, Nigel Garrard said the business had delivered another strong performance, driven by the strength and resilience of the Group’s core businesses and augmented by investments Orora has made to drive growth.
“Orora Australasia delivered solid earnings and sales growth which more than offset input cost headwinds. In North America, the business delivered constant currency earnings growth of 23.1% and now, with a second stream of earnings beginning to flow from Orora Visual, has contributed more than 50% of Orora’s sales(1) for the first time.
“Since listing on the ASX in late 2013, Orora has been executing ‘The Orora Way’ operating model, which encompasses the Company’s strategic pillars of enhancing the core, innovating to lead and investing to grow. The Group’s disciplined focus and successful delivery against this operating model has guided Orora to more than double earnings over that period.
“Importantly, Orora’s strong cash conversion combined with the strength of its balance sheet, provides the Company with capacity and flexibility to continue to invest with discipline in innovation as well as organic and new growth opportunities, to deliver sustainable value creation for shareholders,” Mr Garrard said.
To learn more about Orora’s full year results, watch the latest video with Nigel Garrard:
(1) At 30 June 2017 exchange rates