Coca-Cola Co.'s distributor in Australia said first-half earnings may slip for the first time in seven years, after a costly discounting war with PepsiCo. Inc. The disclosure by Coca-Cola Amatil Ltd., 29%-owned by the U.S. soft-drinks giant, unnerved some investors, sending its shares down 11% to their lowest close since last June. Coca-Cola Amatil also faces continuing pressure from Australia's strong currency, which has made the products of some rival food and beverage importers cheaper.
The Sydney-based company said its first-half profit may be down as much as 9% from a year earlier, when it reported earnings before interest, tax ...
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