Coca-Cola Amatil's Narrow Moat Remains Intact, but Long-Term Profitability Outlook Is Lower
There was a lot to like in narrow-moat Coca-Cola Amatil's first-half result. The firm enjoyed substantially reduced volume declines in its core Australian beverages business, continued solid gains in alcohol and coffee, and had strong results in New Zealand and Fiji. However, Amatil's Indonesian challenges continued, and despite solid segment profitability, we're less confident the business can quickly rebound to growth. Along with a return to losses in the SPC food business, the company reporte...Coca-Cola Amatil manufactures, distributes and sells ready-to-drink beverages. Co.'s product range includes non-alcohol sparkling, beverages, spring water, sports and energy drinks, fruit juices, iced tea, flavoured milk, coffee, tea, beer, cider, spirits and packaged ready-to-eat fruit and vegetable snacks and products. Co.'s segments include: Non-Alcohol Beverages, which manufactures, distributes and markets sparkling drinks and other non-alcohol beverages; Alcohol & Coffee Beverages, which manufactures and distributes premium spirits, beer and coffee products; and Corporate, Food & Services, which is involved in the processing and marketing of fruit and other food products business.
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