ASX-listed packaging group Orora recorded a 28 per cent jump in profit to $168.6 million for the year ended June 30 and predicted a positive year ahead.
The net profit figure was boosted by organic growth, acquisitions in North America and the sale of land at Petrie in Queensland, said a company release. The Australasian business also benefited from improvements to the B9 recycled paper mill at Botany in NSW.
Orora's North American business was helped by currency fluctuations and the acquisitions of packaging supplier Jakait and Texas-based IntegraColor - a provider of point-of-purchase retail displays.
Total sales revenue was up 13 per cent to $3.8 billion.
Orora chief executive Nigel Garrard said the year ahead looked promising.
"It is expected the group will continue to drive organic growth and invest in innovation and growth during FY17, with earnings expected to be higher than reported in FY16, subject to global economic conditions," he said.
Earlier this month, Orora opened a new 4200 sq.m. corrugated packaging and cold storage facility at Bundaberg in Queensland.