coca-cola spills on higher hopes - pet resin
Terry Davis of Cola Amatil learned yesterday that if the market is looking forward to more, the profit upgrade is not very good.
As a result, his share price fell by 1 despite the strong trading update.
9: $9. 93 a share.
Of course, the upgrade is on the margin of 10.
5% from previous high single commitments
At the digital level, the $0. 17 billion buyback was also light, drawing $0. 36 billion in cash from the loss.
Sell its Korean business.
CCA is one of many industrial stocks. in its case 20, it has a high price-earnings ratio.
9 times the forecast income, 12-
Monthly returns, so there is not much room for error in the market's judgment of stocks.
As expected, Davis also bought Bluetongue Brewery from Carnegie Wylie for about $20 million.
The acquisition was made through a joint venture between CCA and SABMiller, and with Davis trying to become the third force in Australian beer, the company has a growing variety of premium beers, although a year behind Fosters and Lion Nathan.
Davis reported that his local business revenue growth was strong, offset by the cost pressure of high oil prices to continuously increase the cost of PET resin.
Aluminum prices have also pushed up costs.
His SPC food business was also adversely affected by the drought.
Overall, Davis performed as well as expected, but when the market was expecting more, the end result was a drop in share prices, which was exactly what happened this morning.
Duriej @ theadealian register. com.
Originally published in coca