MyCCA Contact Us
$8.82
CCL Share Price As at 2020-05-26 18:38:54

$8.96

^ $-0.14/ -1.56%

Search

Coca-Cola Amatil New Zealand to repay Wage Subsidy

Coca-Cola Amatil New Zealand has confirmed it will pay back the $7.2M wage subsidy in full.

Coca-Cola Amatil New Zealand to repay Wage subsidy after strong 2020 performance
  • $7.2 Million wage subsidy to be paid back in full
  • All employees kept fully employed and paid 100% of their wages in 2020
  • Strong performance during COVID year
  • Coca-Cola Amatil NZ Ltd is a New Zealand registered company and pays the full corporate tax rate of 28% 
Coca-Cola Amatil has today provided a market update to the ASX indicating a strong 2020 performance in New Zealand despite suffering a more than 30% drop in revenue over a four week period due to the first COVID-19 lockdown.

As a result, Coca-Cola Amatil New Zealand (Amatil NZ) has confirmed it will pay back the $7.2M wage subsidy in full.
 
Chris Litchfield, Managing Director of Coca-Cola Amatil NZ said "2020 was an extremely difficult year especially in early Q2. The wage subsidy came at a critical time and gave us the security to keep our people employed and paid in full. We are grateful for this support".
 
The once in a generation pandemic created unique challenges to our people and our customers, with many closing during both lockdowns. 
 
"We want to thank our customers for their partnership in 2020 and also to our wonderful staff who rolled with the challenges and kept us operating throughout. 
 
"Their resilience has been inspirational. They are the reason we're in a position to pay back the wage subsidy and keep our other commitments in 2020. 
 
"We are proud to pay back the subsidy whilst keeping all our people employed and paid in full, from the first day to the last during the unprecedented year that was 2020." says Litchfield.
 
In 2020 Amatil NZ:
  • closed the year with a strong financial performance, giving it the ability to pay back the $7.2m wage subsidy in full
  • kept all employees employed and paid 100% of their wages
  • supported their smaller customers such as diaries and takeaways by providing COVID safety screens and other safety related material
  • supported the hard hit hospitality industry through the First Coke On Us campaign
  • met their recycled plastic promise to use only 100% recycled plastic in all its plastic bottles under 1 litre and water bottles across all sizes
  • received the Kincentric Best Employer Accreditation for five consecutive years, the only NZ company to do so.