BusinessCompany NewsCoca-Cola scales back profit targets

Coca-Cola scales back profit targets

The world's largest soft drinks firm, Coca-Cola, has scaled back itslong-term profit and sales targets.

Link: C&W would take profit hit of £9m under IFRS

Growth targets for 2006 and beyond have been reduced to six per cent from a previous estimate of between eight and 10%.

And long-term sales forecasts have been amended from four to three per cent.

Analysts believe that Coca-Cola’s move is a reflection of its problems in recent years in its core market, and its failure to respond to new trends in the soft drinks market.

The company has been slow in pushing into the bottled water and fruit juice brands, as consumers push for healthier drinks.

In the UK, Coca-Cola launched a still water drink, Dasani, only to later admit it was distilled tap water. In March this year, it was pulled from the shelves amid a health scare.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor