Orora Ltd. (AU:ORA) has released an update.
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Orora Ltd. has experienced a robust financial year, with sales revenue increasing 9.5% to $4,697.6m, and underlying EBIT up by 26% to $404.0m, including seven months of earnings from Saverglass. Despite market challenges and a flat statutory NPAT, the company’s global beverage sector saw a significant 54.6% rise in EBIT, while the packaging solutions division faced a slight downturn. Orora also rejected a takeover bid from Lone Star Fund XII, considering it undervalued, and is mulling over the divestiture of its OPS business to focus on beverage packaging.
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