AUS: Coca-Cola Amatil predicts FY profits increase
Coca-Cola Amatil said that it expects 7% growth in EBIT for the 2010 full year
Coca-Cola Amatil (CCA) has said it expects to report a 10% lift in net profits for its fiscal year.
The Australian soft drinks firm said yesterday (6 February) that it expects 7% growth in EBIT for the 2010 full year. CCA will report its 2010 financial results later this month.
The firm said that the impact of the colder and wetter weather across the Eastern seaboard, in particular the flooding in Queensland, will result in EBIT growth of 5% to 5.5% for the second half. This is below the previous 7% to 8% target.
However, second-half net profit growth, which benefited from lower interest and tax costs, is expected to be 9% to 10%.
CCA's group managing director, Terry Davis said: "Trading conditions throughout the summer period have been challenging with unseasonal weather and lower consumer demand affecting CCA's major trading zones across Queensland, New South Wales and Victoria.
"Overall, our expectation of delivering 10% growth for the full year is a strong performance given the result also includes a $9.3m one-off tax expense in New Zealand from the unexpected change in New Zealand tax legislation in the first half," he added.
Click here to view the full release.
Foster's Group has rejected a takeover bid from SABMiller valuing it at AUD11.2bn (US$11.8bn) including debt, marking the first public approach for the Australian beer group....
- Whatever happened to binge Britain? - comment
- The dangers of squaring up to your competitor
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Constellation and Ballast Point's "sticker shock"
- Sidney Frank CEO to head Clooney's import co
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Irish whiskey brands could fail without bulk
- Sazerac sues Brown-Forman over Tennessee Fire
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts