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Weather Dampens Coca-Cola Forecast

News, 10 September 2004

Think Coke, think consumers quenching their thirst on hot summer days, think healthy profits.

Think again, however, as poor weather in Europe and North America has hit Coca-Cola Enterprises' sales and forced the soft drinks bottler and distributor to re-calculate its forecast for the year.

Shares are expected to reap a dividend of $1.21 (€0.9, £0.6), down on analysts' expectations of $1.39 and significantly lower than the company's optimistic forecast in July of $1.43.

The Atlanta, US-based company has said its European sales will fall by around 3 percent, while North American sales face a 1 percent drop.

After the announcement of the figures, parent company Coca-Cola saw its share price fall by $2.20 to $43.45.

Data sourced from: New York Times; additional content by WARC staff