Ahead announcing its FY20 financial results, Coca-Cola Amatil has announced a return to growth in soft drinks, water and juice volumes in the December quarter.
Amatil expects full-year 2020 earnings before interest and tax to fall 13.9 per cent to $550.7 million and net profit to come in around $340.3 million.
Group Managing Director Alison Watkins said: “We delivered a strong trading performance in the all-important 4Q20 Christmas period in both Australia and New Zealand…Whilst we are encouraged by recent trading in Australia and particularly in New Zealand, month to month volatility remains. This is particularly the case in Australia, where On-the-Go (OTG) trading can vary considerably by state depending on the prevailing COVID-19 restrictions and related sentiment at any given point in time.”
This morning, The Australian Financial Review (AFR) reported this morning that industry analysts have suggested that Amatil shareholders might vote against the proposed Coca-Cola European Partners’ $9 billion offer, unless the $12.75 a share offer is revised upwards.
Today Amatil shares sat at $13.12, following an uplift of 1.6 per cent that followed CCA’s trading update issued on Friday, 22 January.
Coca-Cola Amatil’s audited FY20 results are expected to be announced on Thursday, 18 February.
