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Coca Cola Amatil Limited (ASAX:CCL) has revealed a 25 per cent slump in net profit and a 31.3 per cent drop in its final dividend compared to last year.
Earnings were down 38 per cent to $507.1 million in the 2014 calendar year as the soft drink maker lost sales and market share in both Australia and Indonesia.
Trading revenue was down 1.9 per cent to $4.9 billion. The company is posting gains in its energy, sport and dairy drinks but carbonated beverages are in sharp decline.
Coca Cola Amatil says it has identified over $100 million in cost saving over the next three years and will focus on rebalancing pricing across its channels. The company also intends to increase marketing spend to support brand growth.
The beverage maker says it expects to return to growing earnings per share in the short term with no further declines expected after 2014.
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