Coca-Cola Amatil has lifted full year profit 34 per cent, driven by Australian revenue, which grew for the first time in seven years after the segment completed its two-year transition plan.
The beverages firm made $374.4 million in profit for the year to December 31, with total revenue up 6.5 per cent to $5.1 billion.
Shares in Coca-Cola Amatil were up 4.9 per cent to a more than six-year high of $12.63 by 1110 AEDT.
Group managing director Alison Watkins said the results were a pleasing performance.
“This result demonstrates encouraging progress as we mark the completion of our two-year transition period,” Ms Watkins said.
“This result supports our goal of delivering mid-single digit earnings per share growth in 2020 and over the medium term.”
The business bottles and distributes drinks including beer, juice, milk and soft drink to Australia, New Zealand, Indonesia, Papua New Guinea, Fiji and Samoa.
All business segments delivered revenue growth, including the Australian business which recorded the first full-year revenue increase since 2012.
Ms Watkins said the Australian Beverages business had delivered a pleasing result, with revenue and volume growth for the year led by another excellent performance by Coca-Cola No Sugar.
There was also strong delivery against initiatives in the Australian Accelerated Growth Plan including a focus on core range products, key selling weeks, driving growth in the state immediate consumption channel and targeted marketing initiatives such as the “Share a Coke campaign”.
The company said Indonesia and Papua New Guinea operations were strong, delivering double-digit revenue and volume growth.
Shareholders will receive a dividend of 26 cents per share, unfranked.
The 2018 full year dividend was the same amount, 50 per cent franked.
AAP
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