Finance Finance News Coca-Cola Amatil says SPC could be sold

Coca-Cola Amatil says SPC could be sold

Coca-Cola Amatil has swung to a half-year profit of 12.8 per cent to $158.1 million. Photo: AAP
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Coca-Cola Amatil is considering selling its SPC fruit and vegetable canning business, saying a change of ownership is among options to grow the underperforming operation.

CCA group managing director Alison Watkins announced a review of SPC at the company’s half-year profit results on Wednesday, saying a sale, partnership or merger are among options to be considered.

“We believe there are many opportunities for growth in SPC, including new products and markets, further efficiency improvements, and technology and intellectual property,” Ms Watkins said in a statement.

“Importantly, there are no plans to close SPC.

“We see a positive future for SPC as it continues to transform its operations.”

CCA posted a 12.8 per cent increase in half-year profit, aided by double-digit earnings growth in alcohol and coffee sales and strong performances in New Zealand and Fiji.

The beverages maker and bottler said it made $158.1 million in statutory net profit, up from $140.1 million a year ago, while trading revenue was little changed from a year earlier, at $2.39 billion.

The company announced a partially-franked interim dividend of 21 cents, unchanged from a year ago. 

CCA shares were up 20 cents, or 2.1 per cent, to $9.72 at 1026 AEST.