Coca-Cola Amatil trading update

The impact of the colder and wetter weather across the Eastern seaboard, in particular the flooding in Queensland, will result in EBIT growth of 5-5.5% for the second half which will be below the 7-8% previously advised target.

However, second-half net profit growth which benefited from lower interest and tax costs is expected to be 9-10% and is ahead of target.

CCA’s group managing director, Terry Davis, said: “Trading conditions throughout the summer period have been challenging, with unseasonal weather and lower consumer demand affecting CCA’s major trading zones across Queensland, New South Wales and Victoria.

“Overall, our expectation of delivering 10% NPAT growth for the full year is a strong performance given the result also includes a $9.3m one-off tax expense in New Zealand from the unexpected change in New Zealand tax legislation in the first half.”

Source: Coca-Cola Amatil

• If you enjoyed this article, you may also like this: Coca-Cola Amatil posts record first-half profit