AUSTRALIA: CCA posts 16% growth but fears persist
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."
Coca-Cola Amatil produced decent first-half results but speculation that it may sell some of its international operations and its determination to look beyond the core soft drinks sectors for growth i...
Coca-Cola Amatil said yesterday (10 August) that it has agreed to purchase the business and assets of the Grinders Coffee Group (Grinders)....
Following a review of its operations, Coca-Cola Amatil has announced its intention to restructure its Asian business activities through the creation of an Asian Beverage Division (CCA Asia)....
Coca-Cola Amatil (CCA) has seen its net profits increase 16.8% to A$145.2m in its first half, driven in part by growth of non-carbs and innovation, the company said today (10 August)....
Coca-Cola Amatil (CCA) is poised to shake up its Indonesian and South Korean bottling operations, according to an investment bank....
Coca-Cola Amatil is to issue a five-year A$250m (US$192m) domestic debt issue....
SPC Ardmona has signed an agreement with parent company Coca-Cola Amatil (CCA) to supply it with apple juice....
The managing director of Coca-Cola Amatil's (CCA) South Korean unit has taken extended leave, according to press reports....
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