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AUSTRALIA: C-C Amatil reassures over impact of Bali bomb blasts

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Coca-Cola Amatil, the Australian soft drink bottler, reassured the markets today that the weekend's bombing in Bali, which killed 187 peopleand injured more than 300 others, was not expected to have a significant impact on the company's earnings.

However shares in the company wavered, falling 1.6% to A$5.44 (US$2.97) by 1430 AEST, after earlier hitting an intra-day low of A$5.41 (US$2.95). The concerns have arisen after it became apparent that the bomb had wiped out the businesses of some of the company's customers in Kuta Beach, where they exploded.

However, Wagstaff reassured investors that "Bali is a relatively small proportion of the overall Indonesian business.

"We haven't really speculated on (the financial impact) at this stage, but it's unlikely to be significant. It will have an impact on tourism, but who knows when and where."

In August, Coca-Cola Amatil reported a 21.9% in net profit for its ongoing business to A$94.2m for the half year period to June 28. However, the group's Indonesian operations experienced ongoing trouble, with consumer confidence low.

The division saw a 52.1% fall in earnings before interest and tax before significant items to A$9.3m while sale volumes dropped 16% A$45.8m.


Companies: Coca-Cola Amatil

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