• Full-year profits increase by 10.8%
  • Sales edge up 1.2%
  • "Solid start to 2011"
Australia delivered a record result for Coca-Cola Amatil with EBIT growth of 7.3%

Australia delivered a record result for Coca-Cola Amatil with EBIT growth of 7.3%

Coca-Cola Amatil (CCA) has recorded an increase in full-year profits, despite cooler and wetter weather conditions during the second half of the year.

CCA earned AUD$497.3m (US$499.1m) in 2010, a 10.8% increase on the prior year, the Australian soft drinks firm reported today (23 February). EBIT climbed by 7.3% to AUD844.9m.

Sales in the period edged up by 1.2% to AUD4.63bn.

The Australian market delivered a record result with EBIT growth of 7.3% to AUD$592.7m on trading sales growth of 1%. This was despite the material impact of unseasonal weather and lower consumer demand.

"“Notwithstanding the continued softness in consumer spending, the Australian business has made a solid start to 2011 with volume and revenue growth ahead of last year in all states except Queensland," said CCA's group managing director Terry Davis. "To deliver full-year EBIT growth of 7.3% was a very good outcome given the cooler and wetter weather conditions experienced across the Eastern seaboard of Australia and the weaker consumer demand in the second half."

The firm's New Zealand & Fiji business achieved local currency earnings growth of 4% despite continued difficult trading conditions and the impact of the Christchurch earthquake in September.

Looking ahead, Davis said 2011 is expected to be "a peak year for capital projects", with an overall spend of around AUD$400m on capacity and capability improvements, including investing around AUD$100m in Indonesia on capacity expansion.

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