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Australia's Amcor reports 25 percent increase in full-year profit

Reuters

SYDNEY (Reuters) - Australian packaging group Amcor Ltd (AMC.AX) reported a 25 percent increase in full-year net profit on Tuesday thanks to acquisitions in China, Australia, India and Indonesia, and ongoing growth in emerging markets.

Amcor, the world's top maker of flexible and tobacco packaging, forecast higher earnings for the current year and said acquisitions would remain a key component of its growth strategy.

Net profit after taxes and before one-offs rose to A$737 million (410.88 million pounds)for the 12 months ended June, from A$591.6 million a year earlier. Analysts had on average expected profit of A$714.1 million, according to Thomson Reuters I/B/E/S.

Amcor demerged its Australasia and packaging distribution division in the first half of the year to focus on its core global business of plastics packaging.

(Reporting By Jane Wardell)