Coca-Cola goes down, chairman smiles

Coca-Cola, the world largest soft drink maker, said its trades in North America and Europe declined as wet weather plays first fiddle in the sales. Germany and France are its weakest points.

(PRWEB) September 18, 2004 -- Coca-Cola, the world largest soft drink maker, said its trades in North America and Europe declined as wet weather plays first fiddle in the sales. Germany and France are its weakest points.

Coca-Colas chairman Neville Isdell pointed out sales of the company had slowed, especially in Northern Europe, as wet and rainy weather, unusual for the season, widely covers Europe. Mr. Isdell said he was unhappy with the decline, but he hoped the situation would improve. I am not satisfied with this performance or the anticipated results. They are symptoms of problems that demand strong corrective actions and initiatives that will put this company firmly on its proper growth course," he added.

Coca-Cola shares closed at $41.16 in trade on the New York Stock Exchange after having fallen to $40.39 earlier in the session. That made its shareholders wary as the expected earnings per share in the third quarter fell from the anticipated 54 cents to 46-48 cents.

Germany is the major issue for the soft drink maker since its environmental laws oblige Coca-Cola to use glass bottles instead of cheaper plastic ones. France, however, also shows worse-than-expected results with the sales decreasing twice.

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