CocaCola to repay subsidy

THE New Zealand arm of CocaCola Amatil will repay the $7.2 million it received through the Covid19 wage subsidy scheme.

CocaCola Amatil confirmed while its New Zealand business did suffer the required 30% revenue drop to qualify for the subsidy during the first lockdown, it was now in a position to repay the funds.

All CocaCola New Zealand employees kept their jobs and were paid their full wages.

The company group expects to make a full year net profit of $340 million. — RNZ