Coca-Cola Amatil Limited (ASX:CCL) today reaffirmed its previous guidance as it has made a solid start to the year.
Sydney, May 14, 2010 AEST (ABN Newswire) - The Australian shares gave up 1 per cent shortly after the market opened on Friday led by banks and big miners. The weak commodities prices and decline in Wall Street dented the local market. Today Asian markets also broadly fell after the poor lead from the US.
Yesterday the local market posted a strong gain as investors cheered for the strong employment data in Australia and improving commodities prices, while worries in European markets were easing. The S&P/ASX 200 index was up 1.75 per cent on Thursday.
Coca-Cola Amatil Limited (ASX:CCL) today reaffirmed its previous guidance as it has made a solid start to the year. The soft drink bottler said it is expecting to deliver high single digit earnings growth for the first half of 2010 in both earnings before interest and tax and net profit after tax. Coca-Cola Amatil Managing director Terry Davis said the strength of the company's business model in effectively balancing pricing, volume growth and market share in each of its markets has continued to serve the business well. But it is too early to assess what impact the cumulative effect of the interest rate increases and a less certain global economic outlook will have on consumer confidence and spending in the second half of 2010.
Healthcare services provider Healthscope Limited (ASX:HSP) said Friday that it has received an indicative, non-binding and confidential proposal to acquire all of the issued capital of the company by scheme of arrangement from a private equity consortium. The proposal, which came after the market closed on Thursday, is offering A$5.5 per Healthscope share, representing a significant premium to the company's closing price at A$4.5 on Thursday. Healthscope said its board has not formed a view with respect to the proposal and recommends shareholders take no action.
International infrastructure services group, Cardno Limited (ASX:CDD) announced the highly strategic acquisition of Australian Underground Services Pty Ltd (AUS), an Australian based utility detection and mapping services firm, with A$6 million on an enterprise value basis plus an earn out of up to A$1 million if calendar year profit targets are achieved. The acquisition will be funded with an approximate mixe of 75 per cent cash and 25 per cent shares. Cardno said the acquisition will help drive the growth of its professional subsurface utility engineering services in Australia.
Michelle Liang Asia Business News Asia Bureau Tel: +61-2-9247-4344 Email: email@example.com