Amcor has announced its net profit after taxes for the year ended June 30, 2013, as $600.6 million – up from $412.6 million the same time last year.

The company’s profit after tax and before significant items was $689.5 million, up 8.6 percent. Earnings per share, before significant items, were 57.2 cents, up 9.4 percent.

Returns measured 16.4%; while operating cash flow after net capital expenditure was $739.5 million. Cash flow from operating activities was $1,046.5 million.

Commenting on business segment performance, Ken MacKenzie, managing director and CEO, Amcor, said:

“The Flexible Packaging segment had a strong year with profit up 11.9% and record returns of 24.0%. The operating sales margin increased from 11.2% to 11.6% which is an outstanding achievement and reflects the benefits from recent acquisitions and strong growth in emerging markets. The Rigid Plastics group had a solid year with earnings up 5.2% and returns of 16.9%. The business secured substantial new volumes in both the beverage and diversified products segments that will contribute to future earnings growth.”

MacKenzie continued, “The Australasian and Packaging Distribution business achieved a solid result.The fibre operations had higher earnings driven by improved operating performance and the benefits from recent cost reduction initiatives. The new recycled paper mill at Botany in NSW commenced commissioning in October 2012 and the start up is proceeding well. This is a world-class machine that will deliver $50 million in cost benefits over the next few years.”