Coca-Cola reaffirms profit outlook

SYDNEY: Coca-Cola Amatil Ltd., an Australian and regional soft drinks maker, Thursday reaffirmed its net profit outlook for calendar 2002.

"The outlook for growth in the full year 2002 net profit remains unchanged at the upper end of CCA's previously communicated three year management target of 10-15 percent per annum," the company said in a statement accompanying a presentation to fund managers and analysts.

The group also said first half net profit growth is on track, consistent with its three year annual management target.

Coca-Cola Amatil also announced the resignation of Andrew Reeves, managing director of its Australian operations.

While a replacement for Reeves is expected shortly, the company also said Peter Baker has been appointing managing director of its Indonesian unit, effective June 1.