Coca-Cola Amatil Half-Year Profits Are Way Down On Tougher Trading Conditions

Photo: Getty/Amy Sussman

Coca-Cola Amatil just posted half-year results, and profits are down 12%.

Investors are walking. Shares are down by around 4% just after the open this morning.

Coke made a net profit of $216 million for the six months to June 30, down from $246 million for the same time last year.

It’s blaming its competitors. In the results statement the company their aggressive pricing helped push down beverage earnings by 10%.

“As a result, CCA invested in higher levels of market support and promotional activity which impacted price realisation and profitability for the half.”

Click this link for a live price.

Now read: Why One Analyst Thinks Coca-Cola’s New Beer Deal With Molson Coors Sucks

Follow Business Insider Australia on Facebook and Twitter

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.