The Australian-based soft drink producer and bottler Coca-Cola Amatil disappointed investors, despite posting a first-half earnings rise of 16.5% today and the company’s shares fell by as much as 3%.
Net profit in the six months ended June 30 rose to A$109.5m (US$72m) from the year-earlier A$94m, just ahead of its forecast of 10 to 15% growth.
The rise was driven by sales of Vanilla Coke and other new products in Australia and New Zealand. And the CCA reiterated forecast for full year growth of 10 to 15.
The company said its strong hopes for Australia and New Zealand gave it confidence to make those estimates.
However, falling earnings in South Korea and Indonesia were enought to worry investors and prompted the fall in share price. Earnings before interest and tax slipped 30.9% to A$23.9m at its South Korean business while the Indonesian operation reported a 46.2% fall to A$5.
But chief financial officer Mike Ihlein said: “We have no intention today to get out of Indonesia or South Korea.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
