News: Amcor expects FY earnings increase

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Amcor Limited (ASX:AMC) expects to generate a solid increase in earnings in the current financial year after a strong performance in the first quarter.



The packaging company says it has continued to achieve good growth in emerging markets and also expects to benefit from recent acquisitions, including Australian and New Zealand food packaging business Aperio Group.



Amcor’s Australasian operations were impacted by the high Australian dollar in recording soft volumes for the quarter, with the company set to implement cost reduction initiatives.



Mexican acquisition Aluprint tobacco packaging is also tracking well with volumes in line with expectations.



Amcor generated net profit of $437 million for fiscal 2012.