The 200ml ‘slim and sleek’ can is hugely popular among Millennials and drinking-age Generation Z, with volumes up 10 per cent-plus.
Orora chief executive Brian Lowe said can volumes had increased by more than 10 per cent in the six months to the end of December and the company was investing heavily in plant expansions to keep up with demand.“A lot of new products are going into cans,” he said. The volume growth was strong. “It’s north of 10 per cent,” Mr Lowe said.
The company’s shares were at $4 in late April but had slipped to $2.90 earlier this week as investors worried that a downturn in the US economy would hurt its large North American cardboard box and display materials business. But that didn’t eventuate. Mr Lowe said a solid performance in North America and forecasts that earnings in the June half for both the Australasian and North American businesses would be ahead of the previous year helped the stock. “That’s allayed those fears,” he said.
Orora also has a large glass bottle factory near Gawler in South Australia. That has suffered from a slowdown in theRevenue from bottle sales for wine and beer were both lower than a year ago.
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