Shares in Coca-Cola Amatil fell hard after the beverage maker reported another “transitional” year ahead.
A short time ago, the shares were down 10.6% to $9.02.
The company, under pressure from changing consumer tastes away from sugary carbonated drinks, also announced it was selling its SPC fruit canning business in Victoria.
Managing director Alison Watkins 2019 would be another transitional due to the investment required for the growth plan.
“Our results will also be impacted by the container deposit schemes in Australia, higher PET resin costs and a weak Indonesian Rupiah,” she says.
In Australian Beverages, an additional $10 million investment will be invested in 2019 to increase the sales force.
“Overall, we remain committed to our Shareholder Value Proposition targeting a return to mid-single digit earnings per share growth in the medium term,” she says.
“This will depend on the success of revenue initiatives in Australia, Indonesian economic factors and regulatory conditions in each of our markets.”
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