Coca Cola Amatil says it did better than expected on the year to December, but will report lower revenues and earnings, thanks to COVID-19.
And with the pandemic still battering Indonesia, its most troubled area of operation, you’d right to be cautious about the performance this year.
In a trading update on Friday the company said its earnings before interest and tax (and one off items) for the 2020 calendar year would be $550.7 million.
That’s a 13.9% fall on the 2019 year but it was a bit higher than market analysts were expecting, with forecasts at $504.1 million.
Net profit after tax is expected to be $340.3 million, down from $393.9 million (which came in a non-COVID environment here and off shore).