Australia's Coca-Cola Amatil full-year earnings plunge on SPC writedowns

SYDNEY, Feb 18 (Reuters) - Australia's Coca-Cola Amatil

CCL.AX posted an 82.5 percent fall in full-year net profit on Tuesday, due to writedowns and redundancy provisions in the wake of a state government bailout of its struggling SPC Ardmona fruit cannery.

Coca-Cola, which has also been hurt by a price war with Suntory-owned Schweppes , reported net profit of A$79.9 million ($72.11 million), compared with A$457.8 million a year earlier.

That was largely due to a writedown of SPC Ardmona assets by A$404.0 million.

The Victorian state government stepped in last week with a A$22 million subsidy for SPC Ardmona after the federal government rejected pleas from CCA for a A$25 million grant.

The company's shares have dropped 18 percent over the past year. They closed at A$11.85 on Monday. ($1 = 1.1080 Australian dollars)

(Reporting by Jane Wardell; Editing by Phil Berlowitz)

((jane.wardell@thomsonreuters.com)(+61 2 9373 1817)(Reuters Messaging: jane.wardell.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA EARNINGS/COCACOLAAMATIL