Coca-Cola Amatil Ltd shares rose yesterday after the company delivered on its lowered guidance for the year to December, and indicated that it had made a solid start to 2011.

The shares finished up 31c or, 2.7%, at $11.68.

That's still around a dollar under the 52 week high of $12.74 set late last October before the company first warned that the cool, mild and wet weather was having an impact on demand and profit.

The outcome is around the guidance issued then and in the update at the start of January, hence the positive market reaction yesterday.

The company said in a statement to the ASX that profit rose to $497.3 million for the 12 months to December 31 compared with $449 million in the prior corresponding period.

Net after tax profit before significant items hit a record $506.6 million in 2010, up