Coca-Cola Amatil (ASX:CCL) to cut asset values by $190 million

23Jul

Coca-Cola Amatil (ASX:CCL) to cut asset values by $190 million

 

Coca-Cola Amatil (ASX:CCL) will reduce the value of its assets by between $160 million and $190 million in its half year accounts.

This is in light of the adverse impact of Covid-19 on trading performance.

These likely impairments relate predominantly to Amatil’s Indonesian business and will not impact the Company’s debt facilities.

Amatil has experienced an improvement in trading conditions in its major markets in June, reflecting the gradual easing of Covid-19 related restrictions.

Shares in Coca-Cola Amatil (ASX:CCL) are trading 3.53 per cent higher at $8.81.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

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