Brian Lowe, Managing Director and CEO, said, “We are pleased to announce that all businesses reported an increase in underlying EBIT compared to the prior corresponding period as a result of disciplined execution against our revised strategy. In Australasia, Orora’s Beverage business continued its track record of earnings growth. The earnings improvement was predominately driven by strong volumes across Cans and Closures. Volume gains were partially offset by an unfavourable mix in Cans and Glass driven by an increase in at home consumption and ongoing higher energy and insurance costs.
“In North America, constant currency earnings were higher for both Orora Packaging Solutions (OPS) and Orora Visual (OV), following increased sales force effectiveness and a strong focus on cost control measures. OPS returned to revenue growth and is well positioned in a growing and diverse customer market. The impact of COVID-19 in North America was materially greater than that felt in Australasia, with many retailers remaining closed, negatively impacting OV revenue for the period.
“In respect of North America, new leadership is steering both OPS and OV in a positive direction and is aligned to our revised strategy and strategic priorites. OPS is entering the second phase of our strategy as we position the business for sustainable growth. We will review the strategic direction of OV by the end of calendar year 2021,” Lowe concluded.
