US: Coca-Cola Enterprises warns over Q2 as "unexpected" factors bite
CCE is still having a tough time in 2013
Coca-Cola Enterprises has warned that factors affecting its performance this year have been "unexpectedly persistent" and are hampering its second quarter.
Speaking ahead of a Deutsche Bank presentation today (11 June), chairman John Brock said: “Throughout 2012 and so far this year, we have faced challenging operating conditions, including persistent underlying macroeconomic weakness, significant headwinds from poor weather, the prolonged impact of a sharp excise tax increase in France and a dynamic competitive environment in Great Britain.”
In April, CCE, Europe's largest bottler of Coca-Cola products, reported a 44% drop in first-quarter net profits.
Brock added that the factors have been "unexpectedly persistent and impacted our current outlook for the second quarter”.
“Though we expect some of these challenges to abate as we move through the year, we will better understand the full-year impact of these factors as we move deeper into the prime summer selling season," he said.
Earlier this year, the group warned that 288 jobs are at threat in the UK as it changes its distribution services.
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