Coca-Cola boosted by stronger supermarket, cafe and convenience store sales
Better sales at supermarkets, cafes, fast food outlets and petrol stations have lifted Coca-Cola Amatil to a full year statutory net profit of $374.4 million, with all of the company's business segments delivering revenue growth.
The company's Australian beverages division recorded revenue growth for the first time since 2012, a point highlighted by Coca-Cola Amatil managing director Alison Watkins.
Coca-Cola Amatil boss Alison Watkins.Credit:Louie Douvis
Sales also rose at fast food outlets such as McDonalds and Hungry Jacks. The company also singled out "customer wins in Pizza Hut, which switched to the Coca-Cola range in 2019 for the first time in its 40-year history in Australia".
Total revenue for the group from continuing operations came in at $5.07 billion, which was ahead of market consensus and 6.7 per cent up on the previous full year.
"This result demonstrates encouraging progress as we mark the completion of our two-year transition period," Ms Watkins said.
"In particular, the Australian Accelerated Growth Plan and Indonesia’s Accelerate to Transform Plan are delivering volume and route-to-market improvements in these major markets, with a return to volume and revenue growth in Australia and double-digit revenue and volume growth result in Indonesia & PNG," she said.
"This result supports our goal of delivering mid-single digit earnings per share growth in 2020 and over the medium term," she said.
The market reacted positively to the news with Coca-Cola Amatil shares up 2.4 per cent to $12.33 at 10.20am.
More to come
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