Coke to pay back wage subsidy on frothy 4Q

Fri, 22 Jan 2021

Coca-Cola Amatil said it will pay back the $7.2 million NZ wage subsidy claimed for its 1,000 NZ staff following a strong trans-Tasman trading performance for the important fourth-quarter Christmas period.The ASX-listed firm, which also makes and distributes beverages into the Fiji, Indonesia and Papua New Guinea markets, said it expects a 13.9 percent decline in earnings before interest and tax to A$550.7 million for the calendar year 2020, from a decline in total revenues of 6.1 percent to A$4.8 billion.However, the firm said that reflected a...

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