Shares in global packaging giant Amcor Limited (ASX: AMC) have lifted around 10% to $13.50 this morning after the company revealed a better-than-expected set of half-year results.

For the six months ending December 31 2015 the business posted a profit after tax of US$305.5 million on revenues of US$4,547.7 million.

The group suffered from the effects of the rocketing US dollar over the reporting period, although on an FX-adjusted basis profit and earnings per share were up 6.6% and 10.2% over the prior corresponding period.

The group also guided to expect full year earnings to grow on a constant currency basis for a management team that continues to kick goals via an organic and acquisitive growth strategy.

Over the period Amcor picked up an additional six new packaging businesses and posted double-digit growth across its rigid plastics business, which is leveraged to the long-term growth of powerful emerging-market economies in Latin America and South East Asia.

Although the soaring U.S dollar is a headwind for the company’s substantial non-US earnings, it acts as a tailwind for Australian investors as the US 19 cents per share dividend is exchanged into Australian dollars prior to payment. On an FX-adjusted basis the yield could be expected to be in the region of 3.6% over the full financial year.

Outlook

The group is geographically diversified and has a solid track record of dividend and earnings growth. Given the handy yield, growth potential, and overseas exposure it looks one of the better businesses on the ASX and it’s no surprise the stock is prized by investors in today’s low-growth world.

It trades on an expensive 22x annualised earnings per shares of 59 cents using the most recent half’s result as a data point. Over the past year the stock has fallen as the US dollar has climbed and patient investors may find a better entry point depending on which way the US dollar tracks in the year ahead.

Junior rival Pact Group Holdings Ltd (ASX: PGH) is another option for investors looking to harness the growth in consumer spending across emerging markets. However, neither business looks to have the potential of the three outlined below.

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Motley Fool contributor Tom Richardson has no position in any stocks mentioned.

You can find Tom on Twitter @tommyr345

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.