Coca-Cola Amatil has seen a decline of almost 4% in its domestic sales in Australia for the first half of 2017, compared to the corresponding period.
In its recent results, the group, which operates six markets across Australasia, posted sales of AUD 2.42 billion ($1.91 billion)
Meanwhile, profit also saw a decline of 29% for the first half of the year, which the company states is down to ‘weaker soft drink and water sales’.
The group hopes that new products, including Coca-Cola No Sugar and Keri Juice Blenders, launched in June, will boost its performance in the second half of 2017.
Coca-Cola Amatil managing director Alison Watkins said: “We’re seeing the advantages of a diverse portfolio of products and businesses – our growth segments and opportunities have performed well in this half to partially offset challenging conditions in Australian Beverages.
“Challenges will continue, our confidence in the fundamentals of our business and the work we have underway to stabilise and grow in Australia means that our medium-term targets continue to be: mid-single digit EPS growth, attractive dividends and a strong balance sheet and return on capital.
“That said, we have seen improving performance in Australia since April as we progress portfolio, route-to-market, revenue growth management and cost optimisation initiatives. We are looking to build on this improving performance in the second half.”
© FoodBev Media Ltd 2017