Shares in global packaging business Amcor Limited (ASX: AMC) are down 4 per cent in lunchtime trade after the group's boss warned that trading conditions for the quarter ending September 30 2017 were "difficult".
The MD warned that issues related to "market conditions, customer performance and raw material costs" had worsened from the prior financial year, with the unpredictable emerging markets especially to blame.
The good news was that the MD expected the packaging stalwart could navigate its challenges to still deliver full year profit after tax earnings growth.
Amcor is one of the world's largest packaging companies that manufactures packaging for fast-moving consumer goods such as water bottles or cigarette packets.
Due to its defensive revenue streams and exposure to high-growth emerging consumer markets it's a favourite of many institutional investors. The stock is up 95% over the past 5 years and retains a strong outlook thanks to the consistency of its cash profit growth.
