ORA – Orora Limited
Orora back to November 2016 prices after being hammered today following the release of their FY19 financials.
A quick read of the results seems to indicate that the cost of manufacturing in Australia is becoming more costly and margins are being squeezed as a result; and a weaker Australian dollar, margin pressures and “tough trading conditions” were responsible for the under-performance of their US businesses.
Current Managing Director and Chief Executive Officer Nigel Garrard is retiring effective 30 September 2019.
It doesn’t look like things are going to turn around anytime soon for ORA and it has been punished by the market today as a result, currently down 15.3% to $2.71.
