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Coca-Cola Amatil NZ to pay back full $7.2 million claimed in wage subsidies

Coca-Cola Amatil New Zealand will be paying back all of the $7.2 million it claimed through the Government’s Covid-19 wage subsidy last year, the drinks company announced today.

Coca-Cola drinks (file photo). Source: istock.com

In an update to the Australian share market, the company said a “strong” 2020 performance in New Zealand was the reason behind its decision.

The company last year claimed $7.18 million through the wage subsidy for 1057 employees. Coca-Cola Amatil said it saw a 30 per cent drop in revenue for four weeks during the first lockdown.

Managing director Chris Litchfield said the wage subsidy “gave us the security to keep our people employed and paid in full”.

He said the company was able to keep all of its employees employed and paid 100 per cent of their wages.

"Their resilience has been inspirational. They are the reason we’re in a position to pay back the wage subsidy and keep our other commitments in 2020," he said.