Coca-Cola Amatil (ASX:CCL) to cut asset values by $190 million

Company News

by Rachael Jones

Coca-Cola Amatil (ASX:CCL) will reduce the value of its assets by between $160 million and $190 million in its half year accounts.

This is in light of the adverse impact of Covid-19 on trading performance.

These likely impairments relate predominantly to Amatil’s Indonesian business and will not impact the Company’s debt facilities.

Amatil has experienced an improvement in trading conditions in its major markets in June, reflecting the gradual easing of Covid-19 related restrictions.

Shares in Coca-Cola Amatil (ASX:CCL) are trading 3.53 per cent higher at $8.81.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.