Murray Goulburn and Coca-Cola Amatil have delivered disappointing news to their shareholders as reporting season gets underway for Australia's ASX-listed companies.
Murray Goulburn reported a net loss of $371 million for the year to June, a big fall on the $40 million profit it reported in the previous year.
The company pointed in part to losing more over 20 per cent of its milk supply after milk producers jumped ship following its sudden retrospective milk price cuts and controversial loan package last year which resulted in $406m in writedowns.
The company is now being seen as a takeover target, said it would will borrow up to $100m if needed to ensure it meets its promised milk prices.
Coca-Cola Amatil, meanwhile, has announced a 29.3 per cent fall in its profit to $140m for the six months to June.
The beverage company pointed to slowing soft drink sales, as well as downward pricing pressure in the branded water category.
Woolworths has yet to stock No Sugar, the company's newly launched Coke product, and both Woolworths and Coles recently stopped stocking CCAs full range of Mount Franklin water.
