Coca-Cola Amatil Forecasts A$120 Million Loss for SPC Unit
February 17 2019 - 5:41PM
Dow Jones News
By David Winning
SYDNEY--Australian bottler Coca-Cola Amatil Ltd. (CCL.AU)
forecast a 120 million Australian dollar (US$85.6 million) annual
loss for its SPC fruit-and-vegetable processing business after
booking a hefty impairment charge.
The company said it would record a pretax charge of A$146.9
million in its accounts for the 2018 year, reducing the carrying
value of SPC's net assets held for sale to zero.
"This non-cash impairment does not impact the underlying
performance of the business or the group's ability to pay
dividends," Coca-Cola Amatil said.
The company said it had received strong interest in SPC from
buyers, and several Australian and overseas parties have been
shortlisted after making initial offers.
-Write to David Winning at david.winning@wsj.com
(END) Dow Jones Newswires
February 17, 2019 17:26 ET (22:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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