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Just days after Coca-Cola Amatil Limited (ASX:CCL) flagged soft conditions in Australia new Australian Bureau of Statistics (ABS) figures have shown domestic beer consumption has dropped to a 67 year low.
The ABS reports alcohol consumed as beer dropped to 4.04 litres per person over the last financial year which was the lowest result since 1945.
The ABS figures come after Coca-Cola Amatil re-entered the beer and cider market at the end of last year after a two year hiatus.
Only last week the beverage giant flagged a review and claimed it remains concerned by the conditions in Australia following last year’s disappointing result.
The company is now preparing to undertake a review of the operating cost structure to adapt to a more competitive landscape.
Coca-Cola Amatil’s net profit dropped more than 80 per cent to $80.6 million over the 2013 calendar year.
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