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Berry Posts Record Results

Fiscal year sales reach $7.9 billion

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Berry Global’s fiscal year net sales increased 11% to an annual record of $7.9 billion. The net sales growth of $774 million is primarily attributed to acquisition net sales of $624 million, organic sales growth of $92 million, and a $58 million favorable impact from foreign currency changes. The organic sales growth is primarily attributed to increased selling prices of $191 million due to the pass through of higher cost of goods sold, partially offset by a modest 1% volume decline.

For the fiscal year, net sales in the Health, Hygiene & Specialties segment grew by $365 million primarily attributed to acquisition net sales of $305 million, a $52 million favorable impact from foreign currency changes, and organic sales growth of $9 million. The organic sales growth is primarily attributed to increased selling prices of $56 million due to the pass through of higher cost of goods sold, partially offset by a 2% volume decline.

In the fourth quarter of 2018, Berry Global’s net sales increased 9% to $2.1 billion. Organic sales growth, excluding currency and acquisition effects, was up 3%. The net sales increase of $173 million from the prior year quarter was primarily attributed to acquisition net sales of 7% and organic sales growth of 3% partially offset by a small negative impact from foreign currency changes.

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