Amcor is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
The FY19 result was slightly below expectations. The key highlight was the announcement of the US$500m on-market buyback.
A combination of cost synergies post the Bemis acquisition and the share buyback will help underpin near-term earnings.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks