UPDATE 1-Coca-Cola Amatil H1 profit up, more growth seen

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Wed Aug 12, 2009 10:32pm EDT

* Coca-Cola Amatil first-half profit up 10.4 percent

* Expects growth to continue in second half (Adds company comment; shares)

MELBOURNE Aug 13 (Reuters) - Coca-Cola Amatil Ltd (CCL.AX), Australia's top soft drink bottler, expects second-half profit growth in the high single digits as new products come onstream and spending on drinks holds up, the company said on Thursday.

Coca-Cola Amatil said low petrol prices and lower mortgage interest rates had supported consumer spending amid the global downturn, but the early signs of economic recovery didn't mean the difficulties were completely over.

"I think we will bounce along the bottom for a while," Managing Director Terry Davis told a briefing. "I won't be comfortable or confident about the real recovery until we can say we have peaked in unemployment."

He also said the group, which is 30 percent owned by Coca-Cola Co (KO.N), was considering the option of making its own PET soft drink bottles and it would make a decision in the next three or four months.

Shares in Coca-Cola Amatil, which reported an in line with expectations first-half net profit of A$189.8 million ($158 million), rose 1.1 percent to A$9.35 in early afternoon trade, in line with the increase in the broader market .AXJO. (Reporting by Simone Giuliani)

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