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Coca-Cola Amatil Limited (ASX:CCL) has cut its first half earnings guidance by 15 per cent.
Managing Director Alison Watkins has blamed weakness in Australian consumer confidence and spending as well as rising costs in Indonesia.
The update comes with the commencement of the company’s strategic review and it has flagged a 10 per cent increase in sales for SPC which is set to breakeven for the year.
Ms Watkins is expecting challenging trading conditions to continue for the remainder of the year.
Coca-Cola Amatil’s net profit dropped more than 80 per cent to $80.6 million over the 2013 calendar year.
