Coca-Cola scales back profit 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.

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