Coca-Cola Amatil increased profit to $198.2 million for the six months ending June, with the demand for bottled water offsetting lower soft drink sales.
As the SMH reports, CCA saw a 3.2 per cent increase in Group Earnings Before Interest and Tax (EBIT) to $326.9 million as well as an increase in net operating cash flows of $331.7 million with cash realisation of 98.1 per cent.
The Group is delivering towards its stated target of sustainable mid-single-digit EPS growth in the medium term with an increase in Earnings Per Share (EPS) of 7.8 per cent to 26.0 cents per share in the half.
Coca-Cola Amatil Group Managing Director, Alison Watkins said, “This is a solid overall performance for the Coca-Cola Amatil Group, it shows progress on our shareholder value proposition and reflects the strength that comes with our diversity of markets, products and categories.”
She added that “In Australia volumes in still beverages increased by 9.3 per cent, driven by strong performances water, energy and dairy. This was the result of innovation and investment across the categories that commenced in 2015 including the introduction of FUZE Tea and Monster Energy and the new Mount Franklin marketing campaign.”