Orora announced a lift in underlying NPAT of 12% on FY17 – to $208.6 million with EPS up 11.5% to 17.4c per share.
Sales revenue has risen 5.2% and EBIT 7% with Orora reducing its net debt from $674 million to $667 million.
But the results have failed to impress the market, with Orora shares slipping, despite booking a strong result in the midst of flat trading conditions.
With a strong balance sheet as a foundation, Orora is focused on two separate power purchase agreements with renewable energy providers going forward. The deals are for long-term supply of renewable energy for volumes equivalent to 80% of Orora’s total electricity requirements in Australia.
It’s a smart move into renewables, following AGL Energy Ltd’s (ASX: AGL) lead with Cleanaway Waste Management Ltd (ASX: CWY)
Ann: Orora - Results News Release - FY18, page-17
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Last
$2.45 |
Change
-0.010(0.41%) |
Mkt cap ! $3.640B | |||
| Open | High | Low | Value | Volume |
| $2.48 | $2.48 | $2.43 | $7.112M | 2.901M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 129544 | $2.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.46 | 183721 | 7 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| ORA (ASX) Chart |
