Business Services Industry
Sparkle goes out of Coca-Cola as it warns on profits.
Knight Ridder/Tribune Business News, September, 2004
By Fiona Walsh, Evening Standard, London Knight Ridder/Tribune Business News
Sep. 15--American drinks giant Coca-Cola hit Wall Street with a stark profits warning, sending shockwaves across the Atlantic and forcing down shares in European drinks manufacturers including Cadbury Schweppes, Nestle and Danone.
New chief executive Neville Isdell, a 35-year Coke veteran brought out of retirement earlier this year to run the company, said volume growth in the third quarter would be in the range of flat to 1 percent and that full-year profits will fall short of expectations.
"I am not satisfied with this performance or the anticipated results," he said. "They are symptoms of problems that demand strong corrective actions and initiatives that...
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