Coca-Cola Europacific Partners tempers annual revenue forecast on Indonesia weakness
adjusted its
annual revenue forecast
downward on Wednesday, attributing the change to weaker demand in
Indonesia
caused by
geopolitical tensions
in the
Middle East
and a difficult
economic climate
.
The bottler, which operates in Western Europe, the Middle East, Australia, and New Zealand, cited
brand boycotts
in Indonesia as a factor. The company now anticipates annual
comparable revenue
to increase between 3% and 4%.
Southeast Asia
volumes experienced a decline due to brand boycotts in Indonesia. The boycotts were a response to the conflict in Gaza. Indonesia is a Muslim-majority country.
Coca-Cola Europacific Partners previously expected about a 4% rise in annual comparable revenue.
Coca-Cola Europacific Partners expects annual comparable revenue to be between 3% and 4%, compared with a prior forecast of about a 4% rise.
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