Improvement in Australian beverages for CCA’s second half FY17
Coca-Cola Amatil has announced a net profit after tax of $416.2 million for its 2017 financial year results.
The profit is slightly down by 0.4 per cent on its 2016 financial year results.
In announcing the beverage bottlers results, Coca-Cola Amatil (CCA) Managing Director, Alison Watkins, said there were strong earnings performances for the year in New Zealand and Fiji, Indonesia and Papua New Guinea, along with CCA’s alcohol and coffee divisions.
Despite suffering in the first half, Watkins said CCA’s Australian beverage business improved in the second half.
“Our diverse portfolio of businesses and strong balance sheet enabled us to deliver EPS growth for our shareholders, notwithstanding the challenges experienced by Australian beverages at the start of the year,” Watkins said.
CCA’s SPC preserved fruit business recorded a small underlying profit for the year, benefitting from reduced depreciation.
CCA is however currently looking for buyers for its IXL jam brand.
Watkins said CCA is seeing growth and expects the growth to continue moving forward.
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