date:Apr 14, 2014
Coca-Cola Amatil Ltd. (CCL), Australias largest listed beverage company, fell the most in 23 years after saying profit will drop 15% amid competition with Pepsi, as consumers look for alternatives to carbonated drinks.
The shares slumped 14%, headed for the biggest decline since May 1991, to A$9.85 at 2:17 p.m. in Sydney. With Pepsi as much as 33% cheaper in supermarkets, according to Chief Financial Officer Nessa OSullivan, the company has started a comprehensive review to cut costs and look