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Coca-Cola NZ to repay millions from Covid-19 wage subsidy

Coca-Cola NZ to repay millions from Covid-19 wage subsidy

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The New Zealand arm of Coca-Cola Amatil will repay the $7.2 million it received through the Covid-19 wage subsidy scheme.

POZNAN, POLAND - MAR 1, 2018: Plastic bottles of Coca-Cola, a carbonated soft drink manufactured by The Coca-Cola Company headquartered in Atlanta, Georgia, USA

Coca-Cola (file image).
Photo: 123RF

Coca-Cola Amatil, which is listed on the Australian stock exchange, confirmed while its New Zealand business did suffer the required 30 percent revenue drop during the first lockdown, it was now in a position to repay the funds.

All Coca-Cola New Zealand employees kept their jobs and were paid their full wages.

The company group expects to make a full year net profit of $340m.

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