Share Name Share Symbol Market Type
Coca Cola Company NYSE:KO NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.4701 0.87% 54.4701 54.605 54.04 54.04 11,572,695 01:00:00

Coca-Cola Amatil Annual Profit Drops 52%

17/02/2021 11:24pm

Dow Jones News

Coca Cola (NYSE:KO)
Historical Stock Chart

From Feb 2021 to May 2021

Click Here for more Coca Cola Charts.
   By David Winning 

SYDNEY--Takeover target Coca-Cola Amatil Ltd. said its annual profit fell by 52% as it grappled with the impact of the coronavirus pandemic across its businesses in Australasia, Indonesia and the Pacific.

Coca-Cola Amatil reported a net profit of 179.9 million Australian dollars (US$139.5 million) in the 12 months through December, down from 374.4 million a year earlier. The result was dragged down by a midyear impairment of its Indonesia business and other one-time costs.

Annual earnings before interest, tax, depreciation and amortization fell by 9% to A$898.9 million while revenue fell by 6.1% to A$4.80 billion. Directors of the company declared a final dividend of 18.0 cents per share.

"We delivered a strong trading performance in the all important fourth-quarter Christmas period in both Australia and New Zealand," said Managing Director Alison Watkins.

"While our Indonesian business continued to face challenging trading conditions, contributed to by Covid-19 infection rates remaining high and tough macro-economic conditions prevailing, it was able to deliver positive earnings before interest and tax and a strong cashflow for the year," she added.

Coca-Cola Amatil is a takeover target of Coca-Cola European Partners PLC, a major Coke bottler in Europe. Earlier this month, Coca-Cola European Partners increased its takeover offer to A$13.50 a share for Amatil stock held by independent shareholders, from A$12.75 per share. A separate agreement for the European bottler to acquire other Amatil shares from U.S.-based Coca-Cola Co., which owns a 31% stake, is unchanged.

The new offer values Coca-Cola Amatil at roughly A$9.8 billion and is a 5.9% increase over the initial offer price. Coca-Cola Amatil said it is recommending that shareholders vote in favor of the deal, which is the European bottler's best and final offer.


Write to David Winning at


(END) Dow Jones Newswires

February 17, 2021 18:09 ET (23:09 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year Coca Cola Chart

1 Year Coca Cola Chart

1 Month Coca Cola Chart

1 Month Coca Cola Chart
ADVFN Advertorial
Your Recent History
Coca Cola
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210507 06:14:27