Pact Group has exceeded its full-year net profit expectations ending the period 13. 5 per cent higher than forecast in its IPO prospectus.
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The plastic packaging manufacturer also expected to see revenue growth consistent with GDP in its international division and benign in Australia in the coming year, with margins to be broadly in line with FY14.
Net profit after tax, before significant items, was $59. 7 million in the year ending June 30, higher than the prospectus forecast of $52. 6m.
Earlier this month, the company flagged a favourable tax impact of $18m to $20m in fiscal 2014 after resetting the tax base of some of its assets.
Read more here: Business Spectator