By Andrew Starke
Coca-Cola Amatil (CCA) says it has made a good start to the financial year and expects to meet its earnings and profit guidance for the first six months of 2010.
Speaking at the company's annual general meeting in Sydney, CCA group managing director, Terry Davis, said the company remained in a strong financial position.
"The business is expected to achieve positive volume growth for the first half, which is a pleasing result given the less-favourable consumer environment being experienced this year," he said.
Pacific Beverages, CCA’s joint-venture beer business with global brewer SABMiller, has experienced a slow start to the year but its premium beer portfolio continues to increase volumes and market share.
It now accounts for almost 10 percent of the premium beer market in Australia, largely on the back of Peroni sales.
Peroni will be brewed in Australia from June after the Bluetongue brewery opens on the NSW Central Coast later this month.
CCA shares were trading at $11.21 at 2pm today, up from $10.90 seven days ago.