Amcor reported FY18 earnings in-line with market expectations. NPAT came in at US$724 millon.
AMC’s earnings headwinds have continued for longer than expected and will likely carry into FY19.
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We expect the acquisition/merger with Bemis, (US listed competitor), to close in the new year and then synergy cost savings should help deliver a re-rating of the share price.
We see Amcor as good long term value although recognise that we are not under current algo buy conditions.
Amcor goes ex-div $0.32 o the 7th September.
Amcor
