“Our first half results were impacted by headwinds in the operating environment and marketplace that also have impacted our full-year outlook,” said chairman and chief executive officer John F Brock.
“These factors include ongoing macroeconomic weakness, poor weather, continuing customer challenges from the impact of the French excise tax increase last year, and the competitive environment in Great Britain. Recent weather improvements and a solid summer programme have helped restore growth in our business as we begin the third quarter, although much of the key summer selling season is still ahead of us.
“Our focus remains on our ultimate objective – delivering growth in shareowner value. To that end, and given the sustained impact of these issues in the operating environment, we continue to evaluate each element of our company to improve our growth outlook. We will also utilise all available business levers, including our solid free cash flow and strong balance sheet to continue returning cash to shareowners through our share repurchase programme and dividends.”
Source: Coca-Cola Enterprises
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