The London Olympics is still a once in a lifetime opportunity for Coca-Cola Enterprises, the company insisted today, despite sales for the past three months falling short of expectations.
CCE said the dismal weather and economic hurdles – including a strong dollar – had hurt sales and earnings predictions for the year.
Second-quarter volumes in Western Europe were down by 6%, hit by “unfavourable weather, the impact of the French excise tax increase, and prior year hurdles”. Volumes were down by 4.5% in Britain.
“Looking ahead, we will work to successfully execute our initiatives in support of the London Olympics and Paralympics, which remain a unique multi-year opportunity for CCE to build brands, enhance relationships with our customers,” said boss Hubert Patricot.
“We believe our support of the Olympics and Paralympics will prove an enduring, long-term benefit to our company and I am confident that everyone at CCE is fully prepared to make our Olympic effort a success.”
He added: “The challenges of the second quarter demonstrate the importance of our commitment to outstanding day-to-day execution, exceptional customer service and sustained cost-control efforts. Maximizing these strengths is essential as we work to deliver our full-year objectives.”