Coca-Cola Amatil still expects no growth in its full year profit, as outgoing chairman David Gonski warns the drinks giant needs more time to lift its performance.
The company last month said trade has been weak in its Australian beverages business, and Mr Gonski told his final annual general meeting as chairman that steps are being taken to react to changing trends and consumer appetites.
"So far this year we have experienced weaker than expected trading conditions in Australia, which will impact our performance in 2017," Mr Gonski told shareholders in Sydney.
"We are continuing with our strategies to address these issues - which include rebalancing the portfolio in partnership with The Coca-Cola Company - and we recognise that more time is required for these initiatives to gain traction."
Coca-Cola Amatil has previously noted a shift in demand away from full sugar soft drinks, and it has also felt the impact of strong competition in bottled water.
Chief executive Alison Watkins told the meeting the company had introduced new bottle sizes for its soft drink products, and struck a new partnership with energy drink brand Monster.
She reaffirmed April's guidance of a decline in underlying net profit in the first half of 2017, and a full year underlying profit in line with the previous year's $418 million.
Coca-Cola Amatil shares were steady at $9.62 at 1530 AEST.
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