Orora, an Australian packaging solutions firm, surged to a nearly 15-month high in its share prices, experiencing as much as a 10.1% increase to A$3.930, its highest point since May 27, 2022.
As such, Orora (ASX:ORA) was among the top 10 gainers in the ASX 200 benchmark index.
The firm’s FY23 underlying NPAT reported A$203.0 million, up by 8.5%, propelled by strong growth in North America.
Sales in North America accounted for A$3.25 billion, marking a rise of 2.3%.
The company’s total sales stood at A$4.29 billion, reflecting a 5% increase.
Orora also anticipates higher group earnings for FY24 and projects margin accretion in North America due to their profitable account program.
The stock’s rise marked its largest intraday gain since Feb.
16, 2022.
About 1.85 million of its shares were exchanged compared to the 30-day average of 1.7 million shares.
As of the last close, Orora has outperformed the ASX 200 benchmark with a 23.5% uptick in this year alone, versus a slight 2.2% increase in the benchmark.
Orora is a firm offering packaging solutions and has recently seen a significant increase in its share prices.