Australia's Coca-Cola Amatil shares plunge on first half profit warning

SYDNEY Thu Apr 10, 2014 8:13pm EDT

A pedestrian crosses a road in front of an outdoor Coca-Cola advertisement in Sydney November 17, 2008. REUTERS/Tim Wimborne

A pedestrian crosses a road in front of an outdoor Coca-Cola advertisement in Sydney November 17, 2008.

Credit: Reuters/Tim Wimborne

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SYDNEY (Reuters) - Shares in Australian food and beverage company Coca-Cola Amatil Ltd (CCA) (CCL.AX) plunged more than 12 percent on Friday after the company said it expects its core earnings to fall by around 15 percent in the first half of 2014.

CCA, which posted its worst profit in 20 years in 2013, said in a trading update that challenging conditions would continue due to weak spending in Australia and rising costs in Indonesia.

(Reporting by Maggie Lu Yueyang)

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