Money Coca-Cola Amatil shares are tanking as drinks sales shrink further

12:52  21 april  2017
12:52  21 april  2017 Source:   Business Insider Australia

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Shares in Coca - Cola Amatil fell hard after the beverage maker reported sliding profits and weak Australian sales . A short time ago, the shares were down 9.7% to .69. Further time is required for these initiatives to gain traction.”

Coca - Cola Amatil (CCA) is one of the largest bottlers of non-alcoholic ready-to- drink beverages in the Asia-Pacific region and one of the world's five major Coca - Cola bottlers. CCA operates in six countries – Australia, New Zealand, Indonesia, Papua New Guinea, Fiji and Samoa.

  Coca-Cola Amatil shares are tanking as drinks sales shrink further © Provided by Business Insider Inc Shares in Coca-Cola Amatil fell hard after the beverage maker reported sliding profits and weak Australian sales.

A short time ago, the shares were down 9.7% to $9.69.

The company says underlying net profit after tax will fall for the first half 2017 and the full year is expected to be "broadly in line" with last year.

"Trading in Australian Beverages for the year to date has been weaker than last year with all channels experiencing volume and price pressure due to competition and category trends," the company said in a trading update.

"Amatil’s initiatives, which include strategies to address the structural changes in our market and rebalance our portfolio, working together with our partner, The Coca-Cola Company, continue to be implemented. Further time is required for these initiatives to gain traction."

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Coca - Cola Amatil 's Australia sales have gone flat, leading to a shock profit downgrade. Voices in the wilderness of far north Queensland. Feathered enchantment beyond Africa's big five. Which alcoholic drinks are the healthiest?

We are Coca - Cola Amatil , the power behind our region’s favourite brands. We work together across a diverse group of businesses, and thanks to our world-class manufacturing and sales capabilities, together with our unrivalled relationships, reach and execution

Amatil also says it won't start its $350 million on-market share buy-back announced in February until Wednesday next week.

The company's earnings from Australia, representing about two-thirds of the business, have been falling.

The reason is evolving tastes. In Australia, there’s less demand for fizz -- carbonated drinks -- and more for still, including water, energy shots and dairy.

The company has been cutting costs and restructuring. 

  Coca-Cola Amatil shares are tanking as drinks sales shrink further © Provided by Business Insider Inc

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