Coca Cola Amatil fizzes on 37% profit dive

Coca-Cola Amatil's first-half profit has slipped 37 per cent after a year of challenges at home and abroad, and a $146.9 million write-down of fruit and vegetable canning business SPC.


The beverage giant's net profit fell to $279 million in the six months to December 31, from $445.2 million, while total revenue rose just one per cent to $4.8 billion.


Underlying earnings before interest and tax fell 6.5 per cent to $634.5 million.


The group says it faced a challenging year in Australia due to the implementation of container deposit schemes in NSW and Queensland and falling sales across its beverage selection.
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Across the ocean, soft market conditions, a weak currency and higher commodity prices in Indonesia, as well as logistics and manufacturing challenges in Papua New Guinea, resulted in a combined 2.1 per cent dip in revenue to $981.7 million.