Orora slumps with difficult trading conditions

Orora (ORA) -15.94%; The packaging company followed its peer Pact Group (PGH) down the gurgler today. It was a big EBIT miss despite revenue being in line. The outlook statement was also worrying. The company talked about “challenging market and cost headwinds” which talks to a miss to the markets consensus ~5% EBIT growth in FY20. The North American market is coming under the most pressure with margins and volume.

Orora (ORA) Chart

Orora Ltd Daily Chart