Amatil’s managing director, Terry Davis, said that wet weather and typhoons had had a negative impact on its South Korea business but the company was still confident of recording 50% growth in earnings before interest and tax from the region for 2002, compared with 56% in 2001. However, analysts interpreted this as a negative view as South Korea had produced 145% EBIT growth in the first half.
AUSTRALIA: Amatil shares fall on South Korean concerns
Analysts have reduced their forecasts for Coca-Cola Amatil's 2002 results following concerns about what has been seen by some as an ambiguous outlook for South Korea. The company's shares fell by A$.027, or 4.6%, to $5.63 as a result of investor concerns over the company's forecast for South Korea, previously its prime growth area.