Coca-Cola Amatil Ltd (ASX:CCL) share price rises after delivering fall in half year profits, guides to soft near-term earnings

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Coca-Cola Amatil Ltd (ASX:CCL) on Wednesday reported a first half year profit for the 12 months ending 30th June 2018 of $178.8 million, down 6 per cent on the same period a year earlier.

On a per-share basis, the company said it had a profit of 24.7 cents. This compares with a profit of 25.1 cents per share in the corresponding period last year. The company declared a first half year dividend for the period of 21 cents per share, flat on last year.

Coca-Cola Amatil Group Managing Director, Alison Watkins said: “The stabilisation of revenue and volume in Australian Beverages is consistent with our plans to reinvest cost savings in 2018, as part of the Accelerated Australian Growth Plan.

While there is more to be done, we’re pleased with our progress. In the medium-term we continue to target mid-single digit EPS growth, in line with our shareholder value proposition.”

In trading on Wednesday, Coca-Cola Amatil Ltd shares have risen 11 cents or 1.16 per cent to $9.63.

The Coca-Cola Amatil Ltd share price has risen 13.56 per cent since the beginning of the year, while the S&P/ASX 200 Index has gained 3.68 per cent.

Coca-Cola Amatil shares don’t look cheap, but these 3 shares do…

Combining countless hours of research with over 30 years of hands-on stock market investing experience, The Capital Club’s founder Bruce Jackson has just published his definitive list of 3 Cheap and Good ASX Stocks for 2018.

Coca-Cola Amatil was not one of them, but the list does include one tiny gold mining stock, and the company one top fund manager calls the cheapest stock in the ASX 100.

Find out why these 3 Cheap and Good Stocks could be better buys than Coca-Cola Amatil. But you better hurry… these stocks may not stay cheap for long.

See the 3 stocks

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Contributors to this article may own shares in some of the companies mentioned in this article. The Capital Club has a thorough disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
Bruce Jackson has 30 years of hands on investing experience. He is passionate about stock market investing, running his own portfolio and SMSF. His focus is on small cap growth stocks. You can contact Bruce at brucej@thecapitalclub.com.au