AUSTRALIA: Amatil posts 20% profit gain
The A$447.8m profit recorded by the Australasian Coke bottler in 2001 had been boosted by the sale of its Philippines operations but, excluding the sale, the 2001 comparable figure was A$171m.
Revenues from ongoing businesses at Amatil, which is 35%-owned by Coca-Cola, rose by 4.9% to A$3.4 billion, with volumes up 1.3%. EBIT margin was up 0.9% points at 12.3%. The company said it booked more than A$10m in savings last year.
In Australia, the company's core market which accounts for 75% of Amatil's earnings, the launch of new products such as Vanilla Coke and Diet Coke with Lemon helped to boost earnings which rose by almost 10% to A$317m on volumes 3.9% higher
Amatil also posted a 76% increase in EBIT from South Korea to A$62m, on the back of staff reductions and greater focus on supermarkets which reduced distribution costs. Although earnings from Indonesia fell by 46% to A$21.4m, Amatil's CEO, Terry Davis, was sanguine about the Indonesian market and said the company had no plans to sell its operations there.
Companies: Coca-Cola Amatil
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