Ann: CCA 2013 Full Year Results , page-26

Here's my perspective FWIW. Results were very average but more or less expected. Write downs to clear the slate for incoming CEO Alison Watkins. Challenges are a mature Australian grocery market with a vicious competitor... even with a monopoly brand, can't afford to charge double Pepsi. SPC Ardmona is/was a disaster. The Australian consumer is becoming more health conscious.Some of these problems are not simply passing....

Excluding write-downs, underlying profit puts the co on a PE of around 17, not 20+ as some are claiming. I'm willing to put my faith in Watkins and the brand, great track record. Not buying but not selling either.