Amcor (ASX:AMC) has released its financials for the first half of the fiscal 2025 (ending 31 December 2024), reporting an EBIT of $728 million, up four per cent from the same time last year.

The company said this reflected higher volumes and strong cost performance, partly offset by unfavourable impacts from price/mix.

Amcor brought in net sales of $6.594 billion for the period, one per cent lower than last year, saying this includes an unfavourable impact of approximately one per cent related to movements in foreign exchange rates.

Volumes for the half year were up two per cent compared with the same six-month period last year.

It added price/mix had an impact of approximately three per cent, primarily due to expected lower volumes in high value healthcare categories. On a comparable constant currency basis, net sales were down less than one per cent compared to last year.

As for its December 2024 quarter, the company delivered net sales of $3.241 billion, which was in line with last year on a reported basis, and an adjusted EBIT of $363 million, up five per cent from the same time last year.

Volumes for the quarter were up 2.3 per cent compared to last year, but it said destocking continued in healthcare and demand remained soft in the North America beverage business through the December quarter, impacting overall volumes by more than one per cent.

Amcor CEO Peter Konieczny said the business has delivered “another quarter of solid earnings and volume growth”.

“Amcor delivered a solid second quarter result aligned with the expectations we set out in October, giving us the confidence to again reaffirm our guidance for the fiscal year. We continued to execute well on our underlying business, delivering our fourth consecutive quarter of sequential volume improvement,” he said.

“Margins continued to expand, supporting adjusted EBIT and EPS growth of five per cent on a comparable basis for the quarter.

“We also announced the next transformational step for Amcor, agreeing to combine with Berry Global. Bringing these two companies together will deliver on our strategy to become an even stronger company with accelerated volume-driven organic growth achieved through an unwavering focus on our customers, sustainability and portfolio mix.

“The combined company will have enhanced positions in attractive categories, the material science and innovation capabilities required to further revolutionize product development and a broader, more complete portfolio of primary packaging solutions for consumer and healthcare customers.

“With faster growth and $650 million of identified synergies, this combination will drive significant near- and long-term value for all shareholders. The path to completion is well advanced and we remain on track to close in mid-calendar year 2025.”

Within its flexibles segment, the December 2024 quarter saw net sales of $2.511 billion, up one per cent from last year, as well as higher volumes of about three per cent.

As for its rigid packaging segment, the December 2024 quarter saw net sales of $730 million, which was five per cent lower than last year.

“As expected, consumer and customer demand remained soft and variable in the North America beverage business and volumes and comparable net sales declined at mid-single digit rates,” the company said.