Orora shares jump on H1 profit rise

Company News

Shares in Orora Limited (ASX:ORA) have jumped to the benchmark index’s best performer in morning trade after reporting an interim profit rise and forecasting earnings growth ahead. 
 
The packaging business improved its net profit on a pro-forma basis by 23 per cent to $69.1 million in the first half of the 2015 financial year while revenue rose 3.4 per cent to $1.7 billion. 
 
CEO Nigel Garrard has described the first half result as strong and says the group will continue driving organic growth and deliver on the cost reduction initiatives in fiscal 2015. 
 
Looking ahead Orara expects earnings to be higher than that reported on a pro forma basis in 2014, subject to global economic conditions. 
 
An interim dividend of 3.5 cents per share has been declared.