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.”