Amcor has announced that the company’s profit after tax (PAT) before significant items increased by 11.3% to $634.9m for the year ended 30 June 2012.

Amcor managing director and CEO Ken MacKenzie said its full year result represented a record underlying profit, returns and dividend for the company.

"To achieve an 11.3% increase in underlying earnings was an outstanding effort by our co-workers, given subdued economic conditions and a $35 million adverse impact on reported earnings due to the appreciation of the Australian dollar," MacKenzie added.

The company's flexibles business had a good year with earnings up 16.9% and returns of 23.9% and the rigid plastics business had a strong year with earnings 13.4% higher and returns of 15.5%.

During the 2011/12 year Amcor's strong cash flow was allocated to new capital investment of $400m, five acquisitions totaling $350m, $265m for the new paper recycling mill and a 6% increase in the dividend.