Amcor is getting hit by a higher US dollar but sees better earnings

A giant cartoon-like head made from cardboard. Peter Macdiarmid/Getty Images

Amcor expects higher earnings for the full year despite a higher US dollar stripping $US37 million from profits.

The packaging company’s profit for the half year to December fell 4.9% to $US305.5 million.

Without the foreign exchange difference, Amcor would have posted a 6.6% rise in profit.

A short time ago, Amcor’s shares were up almost 10% to $13.42.

“The full year outlook is for higher earnings than the 2014/15 year, expressed in constant currency terms,” says CEO Ron Delia.

The company declared a dividend of 19 US cents a share, paid as 26.7 AUD cents, up 9.5%.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.