Orora records growth in demand for beverage cans with a profit of 11.7%.

Orora, known for providing global packaging solutions and based in Australia, said that financial results for the six months ended December 2022 had improved markedly and were strongly driven by strong demand for beverage can purchases.
The company earned after-tax profits totaling approximately A$101.2 million. This represents a growth of 11.7% compared to the previous year’s results. On the other hand, total revenues for the period also increased somewhat, reaching 1.9 billion Australian dollars (1.4 billion).

Orora’s CEO, Brian Lowe, reported that the company achieved satisfactory results derived mainly from the high demand in primary markets, mainly for beverage cans.

“Beverage cans are a key category for us, and we’re seeing strong demand in all regions,” said Lowe. “We continue to invest in our beverage can manufacturing capabilities to meet this demand, with new capacity coming on line in the second half of the fiscal year.”
Due to the increase in demand for beverage cans, the company has started to produce more and expand in different countries. From the U.S. to Vietnam via New Zealand after purchasing Bronco Packaging to meet local needs.

“We continue to invest in our existing plants, as well as look for opportunities for further expansion,” Lowe said. Orora’s beverage can volumes in North America grew by 11.6%, while in Australasia they grew by 2.5%.

The company’s fiber packaging division also posted positive results, with revenues up 4.6% over the previous year. Looking ahead, Lowe said the company is well positioned to continue its growth trajectory.

“We are focused on driving profitable growth, and we are well positioned to do so with our strong customer relationships, market-leading products and services, and focus on innovation and sustainability.” he added.