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Amcor in August Reported a 15.7 % Rise in Net Profit to $412.6m for 2011/12

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Core prompt: The packaging company’s annual report showed he received $7.5m in the last financial year (2011/2012) compared to $6.4m in 2010/11. His base salary rose to

Amcor'S Mackenzie Receives $1m Pay Rise

The packaging company’s annual report showed he received $7.5m in the last financial year (2011/2012) compared to $6.4m in 2010/11.

His base salary rose to $1.9m from $1.8m, while the rest of his remuneration package was made up of other benefits and $143,899 in relocation expenses.

In a statement in its report, Amcor said: “We remunerate the CEO and senior executives using a combination of fixed and variable plans, with a greater emphasis on variable performance-based plans.”

Amcor in August reported a 15.7 % rise in net profit to $412.6m for 2011/12 from $356.7m in 2010/11, boosted by growth in emerging markets and benefits from acquisitions.

In a joint statement, chairman Chris Roberts and MacKenzie wrote in the annual report that the group expected to enjoy ongoing growth in 2012/13 in constant-currency terms.

They added: “The increase, expressed in Australian dollar terms, will depend on the level of the Australian dollar throughout the year.

“This is an exciting time for Amcor, as all the building blocks are in place for sustained growth and continued improvement in shareholder returns.

“The Board would like to thank all Amcor’s stakeholders, including customers, shareholders, co-workers and suppliers, for their continued support over the past 12 months.

 
 
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