News

HONG KONG: Huiyuan Juice Group issues H1 profits warning

Most popular

The beer category in 2018 - Review

The beer category in 2019 - just-drinks predicts

Is craft spirits approaching a reset moment?

How beer faces the growth challenges of tomorrow

MORE

Huiyuan Juice Group, China's largest juice firm, has warned that profits for the first half of 2009 are likely to fall significantly.

Uncertainty surrounding Coca-Cola Co's attempt to buy the juice firm led to a "significance decrease in sales" during the six months to the end of June, Huiyuan said today (7 August).

It warned that it is likely to report operating losses for the half-year, compared to the same period of 2008.

Other factors that have damaged the group's performance include restructuring initiatives.

The firm said it expects performance to improve in the second half of 2009, "as the uncertainties associated with the proposed Coca-Cola takeover offer have been cleared, as a result of its lapse, and the economic benefits of the implemented restructuring initiatives will gradually crystallise".

Last year, Coca-Cola Co agreed to acquire Huiyuan for US$2.4bn, but China's Ministry of Commerce blocked the deal in March this year due to competition concerns.

Hong-Kong-based Huiyuan, which reported a 6% sales rise in 2008, is China's largest juice firm with a 42% market share.


Sectors: Soft drinks

Companies: The Coca-Cola Company

Related Content

Currency headwinds continue to hamper C&C Group in H1 2018 - results

Currency headwinds continue to hamper C&C Group in H1 2018 - results...

Coca-Cola Amatil H1 2017 - results data

Coca-Cola Amatil H1 2017 - results data...

The Coca-Cola Co unveils vegetable juice as new products put in spotlight

The Coca-Cola Co unveils vegetable juice as new products put in spotlight...

Coca-Cola HBC H1 2017 by market - results data

Coca-Cola HBC H1 2017 by market - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?