• Global leader in consumer packaging: Amcor CEO Ron Delia
    Global leader in consumer packaging: Amcor CEO Ron Delia

The world’s biggest consumer packaging business Amcor is raising its profits guidance on the back of stay-at-home consumption during Covid.

The company is seeing its US figures in particular rise strongly, with demand for packaged staples such as meat and cheese surging as consumers eschew restaurant meals.

Ron Delia, CEO at Amcor, told the market the company was now expecting its full year numbers to come in at between 7 and 12 per cent, up from 5 to 10 per cent it had previously.

Delia said the first few months of the new financial year – July through October had seen the company perform strongly, as grocery staples, healthcare and medicine were all beneficiaries of the Covid demand.

Amcor is now listed on the NYSE; it moved from the ASX following its $9bn buyout of rival Bemis last year. The majority of analysts now have Amcor as a buy.

Food & Drink Business

Unilever has released its Future Foods initiative, outlining commitments to a healthier and more sustainable global food system. At its centre is a $1.63bn sales target for plant-based meat and dairy alternatives within the next five to seven years.

Coles and waste and recycling services company Cleanaway have launched an organics recovery facility in Brisbane to convert food waste into nutrient-rich compost, the first of its kind in Queensland.

Most of the world’s food is travelling thousands of kilometres through a complex distribution network often hidden from plain sight that’s leaving suppliers in the dark and consumers with inconsistent quality.