Improved cheap train services are bringing hordes of youths bent on late-night mayhem into central Auckland from south and west suburbs.
Coca Cola Amatil is standing by its projection of high single digit growth, despite mass beverage industry consolidation and continued speculation of a takeover or merger.
The company’s trading update issued at its Annual General Meeting reaffirmed guidance given at the full year results.
CCA expects to be able to deliver high single digit growth in both earnings before interest and tax (ebit) and net profit after tax (npat) for the first half, and across the 2009 full year.
Coca Cola Amatil (CCA) posted a net profit after tax of $A385.6 up 24.1% on last year.
CCA managing director Terry Davis said he was happy with the result given the rough economic conditions.
Revenue for New Zealand/Fiji fell by 1.9% to $A445.6 million due to higher input costs, despite sales volumes being up 1%.
Earnings before interest and tax for the region was up 7.2% to $A83.4 million.
French drinks company Groupe Danone says it has completed the sale of Kiwi drinks company Frucor to Japanese brewer Suntory for €600 million.
Investment bank JP Morgan handled the sale, with Suntory announced as the winner in late October.
Using October’s exchange rate this equates to $NZ1.36 billion, today’s fallen Kiwi dollar puts it at $NZ1.53 billion, either way, Suntory paid a premium to obtain the company.
Lion Nathan chief executive Rob Murray believes the company’s $8 billion takeover offer for Coca Cola Amatil (CCA) will still interest shareholders, despite the target’s vocal opposition.
Coca-Cola Amatil said yesterday it thought the cash and share offer inadequate, and a number of other conditions would need to be satisfied for it to support the deal.