Does AMCOR have an improving gross margin profile as of FY2023? If gross margin is not a useful metric for a company like this, then state that and explain why.
Amcor plc and Subsidiaries
Consolidated Statements of Income
($ in millions, except per share data)
For the years ended June 30,
2023
2022
2021
Net sales
$
14,694 
$
14,544 
$
12,861 
Cost of sales
(11,969)
(11,724)
(10,129)
Gross profit
2,725 
2,820 
2,732
No. For AMCOR there has been a slight decline in gross margins by 0.8%.
Gross Profit/Net Sales
2725/14694
2820/14544