AUSTRALIA: CCA profits rise in H1
The Australian soft drink producer Coca-Cola-Amatil has seen its net profit increase by 16.6% in the first half of the year, compared to the same period last year, reaching A$127.7m.
Earnings per share was up 15.2% to 18.2 cents.
The company said in a statement that EBIT increased 12.2% to A$242.6m due to a strong performance in Australia and improved trading in New Zealand, PNG and Indonesia. However, these markets were partially offset by South Korea, which posted a lower contribution.
The home market of Australia posted EBIT growth of 15.4% and margins of 19.7%. The company said it was boosted by product innovation and growth in non-carbonated drinks.
The company said that South Korea recorded a decline in EBIT to A$12.8m. However, it added that it had made good progress in addressing the problems.
CCA said its interim share dividend increased by 25% to 12.5 cents.
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