Coca-Cola Amatil (ASX:CCL) trading update

Company News

by Katrina Bullock

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.
 

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.