Pact Group's four acquisitions in the last year have helped it to a record profit of $85.1 million for the 2016 financial year.
The packaging company's profits were up 25.8 per cent from 2015, and revenue rose about 10 per cent to $1.39 billion.
Pact purchased Jalco for $80 million in September last year, and made three other acquisitions which contributed to its earnings.
Its Efficiency Program, announced in 2015, is now substantially complete, with $6.6 million in efficiency savings delivered during the year, slightly ahead of expectation.
Chief executive Malcolm Bundey told the Australian Financial Review there was still “a robust pipeline” of potential acquisitions for Pact both in Australia and in Asia and New Zealand, where it bought the Fruit Case company in July.
Revenue and earnings in Pact's Australian business, which is responsible for about 75 per cent of the group's result, grew strongly, but fell in Pact's international business.
Pact said the volume of its packaging manufacturing had been hit in the agricultural and dairy sectors due to weak global dairy markets and unfavourable weather as well as lower demand in the industrial sector that was influenced by weaker mining markets.
Demand across other sectors was also subdued.
Bundey said the company was well placed, though, in terms of spreading risk across the business, with no customer accounting for any more than 5-6 per cent of income.
