Australia's largest soft-drink manufacturer, Coca-Cola Amatil Limited, is predicting lower earnings for the last half of 2010 due to difficult weather conditions in the country during the past year.

The company is expecting earnings to be lower, ranging from five and 5.5 percent, much lower than its previous target of seven to eight percent. “However, second half net profit growth which benefited from lower interest and tax costs is expected to be nine to 10 percent and is ahead of target,'' Coca-Cola said in a statement.

Despite the devastating floods, Coca-cola’s net profit after tax is forecast to increase by an overall 10 percent for 2010 and earnings before interest and tax to hike by by seven percent.

"Trading conditions throughout the summer period have been challenging with unseasonal weather and lower consumer demand affecting CCA's major trading zones across Queensland, New South Wales and Victoria,'' Coca-Cola Amatil Ltd. Chief Executive Officer Terry Davis said."Overall, our expectation of delivering 10 percent NPAT growth for the full year is a strong performance.''

The expected figures also take into account a $9.3 million one-time tax expense incurred in New Zealand in accordance to its revised tax law. Coca-Cola Amatil is an Australian company with other products including water, sports and energy drinks, fruit juices, coffee, ready-to-drink teas and ready-to-eat fruit and vegetable goods. It is 30 percent owned by U.S.-based Coca-Cola Co.