AUS: Coca-Cola Amatil to meet profits guidance
Coca-Cola Amatil has said solid trading in the third quarter of its fiscal year means the soft drinks group is on-track to meet profits guidance.
Operating profits and net profits are set to rise by high single digits for the second six months of 2009, Coca-Cola Amatil (CCA) said in a trading update today (4 November).
"CCA's strong first half trading performance has continued during the third quarter with good revenue and volume growth achieved across all business units," said the Australia-based soft drinks group.
In the third quarter, CCA said it has seen "solid" volume and revenue growth in Australia, with particularly strong performances from Glaceau vitamiwater and energy drink brand Mother.
"Some positive signs" have emerged in New Zealand, "indicating an improvement in economic conditions that flowed through to higher consumer demand", said the group. Indonesia has also reported strong growth, led by Minute Maid Pulpy Orange.
Pacific Beverages, CCA's joint venture with SABMiller, has seen year-to-date volumes of Peroni Nastro Azzurro lager rise by 50%, albeit from a low base. Initial sales of Russian Standard vodka, launched in July by the venture, has also "exceeded expectations".
CCA said it plans to increase capital expenditure as a percentage of sales in 2010, to around 8.5% from 7.5% this year. The group's Bluetongue Brewery in New South Wales is set to be complete by May 2010.
Coca-Cola Amatil (CCA) has confirmed details of its dividend reinvestment plan for last year....
- Brown-Forman's march on premium whisk(e)y -Comment
- Will US consolidation leave craft alcohol exposed?
- Are consumers getting tired of consuming?
- Where does AB InBev see the future of beer?
- Should Boston Beer Co put up the For Sale sign?
- Brown-Forman to buy BenRiach Distillery Co
- AB InBev snaps up Italy's Birra del Borgo
- Smirnoff Ice Electric flavours - NPD
- Bacardi rolls out new global Martini ad - video
- Brown-Forman appoints new GTR marketing head
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends