Coca-Cola Amatil Ltd (ASX: CCL) shareholders have finally been given something to smile about after the company provided a bubbly outlook for the future.
Although it reported a 25.3% decline in underlying net earnings, the shares still surged more than 7% to a fresh 10-month high of $10.68. The main reason behind this is likely the optimistic outlook provided by management who reconfirmed that "concrete progress" had been made in implementing strategies to improve its position in the market. It expects this will enable it to "return to growth and generate attractive and sustainable returns for our shareholders over the next few years."
Despite challenging conditions, Coca-Cola Amatil is targeting a return to mid-single digit growth in earnings per share, with no further declines expected after 2014. After years of declines, that should be music to investors' ears. A more detailed review of Coca-Cola Amatil Ltd's full-year results can be found here, but in the meantime, there's another stock which could be an even greater buy today.
