ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

CCL Coca Cola Amatil Limited

13.30
0.00 (0.00%)
02 May 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
Coca Cola Amatil Limited ASX:CCL Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 13.30 13.29 13.31 0.00 01:00:00

Coca-Cola Amatil to Sell SPC Unit, Warns on Australia Beverages

29/11/2018 10:34pm

Dow Jones News


Coca Cola Amatil (ASX:CCL)
Historical Stock Chart


From May 2019 to May 2024

Click Here for more Coca Cola Amatil Charts.
   By Mike Cherney 
 

SYDNEY--Australian bottler Coca-Cola Amatil Ltd. (CCL.AU) said it had decided to sell its struggling SPC fruit-and-vegetable processing business, and warned that Australian beverage volumes were still tracking lower than last year.

The sale of SPC, which is expected to post a loss in 2018 of 10 million Australian dollars (US$7.3 million), would sharpen the company's focus on beverages and comes after a strategic review. But Amatil's core business, sugary soft drinks, has also struggled as consumers look for healthier options. The company said Friday that second-half volumes in its main Australian beverages unit were still tracking slightly below last year.

Amatil also said that performance in Indonesia, previously a bright spot for the company, was being impacted by soft demand, cost pressures and a weak currency. It also added that the reinvestment of A$40 million in cost savings for Australia would impact the 2018 result, along with new container deposit schemes in some Australian states.

Looking further ahead, the company said 2019 would be another transitional year due to more investment in the Australian and Indonesian businesses.

"Overall, we remain committed to our Shareholder Value Proposition targeting a return to mid-single digit earnings per share growth in the medium term," said Managing Director Alison Watkins. "This will depend on the success of revenue initiatives in Australia, Indonesian economic factors and regulatory conditions in each of our markets."

The company offered the update as it held an investor day on Friday. It also said that its New Zealand and Fiji unit and its alcohol and coffee unit were expected to deliver growth in line with previous expectations.

 

-Write to Mike Cherney at mike.cherney@wsj.com

 

(END) Dow Jones Newswires

November 29, 2018 17:19 ET (22:19 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

1 Year Coca Cola Amatil Chart

1 Year Coca Cola Amatil Chart

1 Month Coca Cola Amatil Chart

1 Month Coca Cola Amatil Chart

Your Recent History

Delayed Upgrade Clock