Coca-Cola Amatil profit down 22% February 19, 2013 - 9:38AM Beverage company Coca-Cola Amatil's (CCA) annual profit has fallen by 22 per cent as it deals with weak consumer spending and the high Australian dollar. CCA made a net profit of $459.9 million in the year to December 31, down from $591.8 million in the previous corresponding period. The result included $98.5 million in writedowns, related to its SPC Ardmona business, which has struggled to compete against supermarket labels and imports due to the high Australian dollar. CCA's net profit before significant items was $558.4 million, up five per cent from $532 million in the prior corresponding period, in line with the company's previous forecasts. Managing Director Terry Davis said volume and earnings in the company's Australian business was solid given a difficult trading environment. "Earnings growth was moderated by disappointing performances from New Zealand and SPC Ardmona, with the ongoing impact of the high Australian dollar on the competitiveness of SPC Ardmona leading to a writedown of assets and goodwill in the business," he said in a statement.