Coca-Cola Amatil Limited (ASX:CCL) has posted a 5.5 per cent increase in its first half underlying net profit, but its net profit has fallen 27.8 per cent due to restructuring costs.
In the six months to July 1, 2011 the beverages manufacturer managed to deliver an underlying net profit of $234.1 million, slightly above its guidance and analysts expectations but the lowest growth in three years.
In the same period net profit fell to $153.6 million, as the company booked $80.5 million in one-off costs relating to the restructure of its SPC Ardmona food business.
Following a strategic review Coca-Cola Amatil will now consolidate its SPC Ardmona manufacturing sites in Victoria from three into two.
Coca-Cola Amatil has increased its interim dividend by 7 per cent to 22 cents per share.
In the 2010 financial year Coca-Cola Amatil net profit rose 11 per cent to $497 million.
CCL Price at posting:
$10.16 Sentiment: None Disclosure: Held
