Coca-Cola bottler says S Africa sugar tax may hit profit
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COCA-COLA Beverages Africa (CCBA), the bottling joint venture between the US soft-drink maker and brewer SABMiller plc, may close South African plants and see profit in the country more than halve if the government pushes ahead with a proposed sugar tax.
South Africa's National Treasury last month recommended a levy on sugar-sweetened beverages that would generate almost 11 billion rand (S$1.1 billion) in government revenue, based on 2012 consumption data cited in the policy paper.
