Australian soft drinks group, Coca-Cola Amatil, has said it believes it is still on target to post full-year net profit growth at the upper end of its 10% to 15% forecast. The company, which is 35%-owned by Coca-Cola Co., said gains from asset sales in 2002 would be slightly ahead of exceptional charges in respect of company restructuring.

"The outlook for growth in full year 2002 net profit remains unchanged at the upper end of CCA's previously communicated three-year management target of 10%-15% per annum," CCA said in a statement to the Australian Stock Exchange. "CCA also expects that the first half of 2002 net profit growth to be consistent with the three-year annual management target."

Coca-Cola Amatil registered a 1.9% rise in sales in the first quarter to A$811.1m, with group volumes for the same period down by 0.5% at 143.6m cases which the company attributed to a 19% decline in volumes in Indonesia.

The company also confirmed the departure of two senior executives. Andrew Reeves, managing director of the group's Australian division, has resigned to take up an appointment at Lion Nathan. The company also announced that Michael Crowell, who has headed up its Indonesian operations for the last two and a half years, is leaving his post a year and a half before the end of his contract. He is to take up an appointment at Coca-Cola in the US.