Amcor PLC reported positive first-half and second-quarter results

Amcor PLC (ASX: AMC) reported the following first-half and second-quarter results:

Half-year ended 31 December 2022:

The company's net sales of AU$7,354 million grew by 6%, offsetting a 5% negative impact from changes in foreign currency exchange rates and price increases of roughly AU$670 million (representing 10% growth).

The company's GAAP Net Income was AU$691 million, which includes a $215 million advance on the sale of the Russian company. On a constant currency basis, adjusted EBIT of AU$791 million was 8% higher than the prior year.

2QFY23 ended 31 December 2022:

Net sales increased by 4% to AU$3,642 million, including a 5% negative impact from changes in foreign currency exchange rates and AU$270 million in price increases (representing 8% growth).

GAAP Net Income was $459 million, along with a $215 million gain on the sale of the business in Russian. Adjusted EBIT of AU$399 million was 7% higher in constant currency than in the previous quarter.

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