Coca-Cola Amatil (ASX:CCL) has released a trading update on the group’s performance for the first quarter of 2020.
The company says that volume is expected to grow but only by single digit percentage growth compared to the previous year’s first quarter.
The company expects earnings before interest and tax to be a mid-teen percentage decline on compared to Q1 of last year.
The company expects to see a volume increase in the month of March, and partially attributes it consumer stockpiling.
The company says that volumes have reduced around 30 per cent during the first 2 weeks of the second quarter compared to the prior corresponding period.
Indonesian volumes were hit particularly hard, reflecting weaker sales in the lead up to Easter and Ramadan due to Government lock down measures with large volatility in volumes across markets and channels.
Shares in Coca-Cola Amatil (ASX:CCL) are trading 2.4 per cent lower at $8.97.