Underlying net profits rose 5.7% year-on-year to $322 million, but a more favourable exchange rate would have produced a $342 million result for the six months to 31 December 2012.
Amcor's profits were further hit by a one-off net expense of $83.7 million for the closure of its cartonboard plant in Petrie, Queensland. That resulted in a headline net profit of $238.3 million, a 16.3% rise.
Half-yearly revenue fell 0.8% to $6 billion and net debt increased by 8.4% to $3.8 billion.
Amcor derived 51% of its revenue from flexibles, 25% from fibre, metal and glass, and 24% from rigid plastics.
Australia and New Zealand contributed 22% of revenue, North America 30%, Western Europe 26% and emerging markets 22%.
[Related: Amcor posts $305m underlying profit]
The Australasia & Packaging Distribution division saw revenue climb 1% to $1.5 billion, although underlying earnings before interest, taxes, depreciation and amortisation fell 7.5% to $141.3 million.
Amcor's new $500 million recycling plant in Botany, Sydney, is forecast to provide about $5 million of profits before interest and taxes in H2 and $50 million annually once it hits full production at the end of 2014.
The packaging giant also reported that it had generated $22 million from this month's sale of three plants, which were acquired as part of its $238 million purchase of Aperio Group. The plants produced annual sales of about $80 million.
Chief executive Ken MacKenzie said Australasia & Packaging Distribution had achieved a "solid result".
"After experiencing a slow first quarter, volumes were stronger in the second quarter," he said.
"Amcor is well-positioned to deliver continued earnings growth [across all divisions]. This growth is underpinned by the benefits from the new recycled paper mill at Botany, further acquisitions and our focus on innovation and emerging markets."
MacKenzie forecast another rise in underlying profits in H2.
[Related: More finance news]
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