US: BRIC economies give fizz to Coke figures
A strong showing in key emerging markets and improvements in Western Europe have driven full-year results at The Coca-Cola Co.
The US-based group, the world's largest beverage company, today (14 February) posted a 4% rise in underlying operating profit to US$6.3bn during 2006.
Stripping out one-off items, including an impairment charge at its largest bottler Coca-Cola Enterprises, Coca-Cola Co. said operating profit rose 7%. Net sales rose by 4% to US$24bn last year, the company added.
"We achieved strong results in key emerging markets including China, Russia and across Latin America, along with improved performance in Japan and Western Europe during the year," said Coca-Cola Co. chairman and CEO Neville Isdell.
The company's international operations drove up volumes by 6% thanks to "double-digit" growth in markets including China, Russia, India and Nigeria, the company noted.
Volumes in the EU rose 6%, Coca-Cola Co. said, thanks to first-time contributions from acquisitions in Germany and Italy. Revenues, however, fell 11% as charges from the company's restructuring in Spain hit the bottom line in the region.
Volumes in North America were flat as sales of carbonated beverages dipped 1%. However, the company said it had gained share of the "sparkling" beverage category in North America due to strong sales of Coke Zero and Vault.
Revenues and operating profit in North America were up, however, due to "favourable" pricing, Coca-Cola Co. said.
Globally, the company's sparkling beverage volumes rose 4%, while its stills portfolio saw volumes rise 7%.
Isdell added: "We continue to demonstrate that we can be successful growing sparkling beverages, while expanding our beverage portfolio. With an improving set of capabilities, we delivered results at the top end of our long-term volume and profit growth targets."
Following the recent floods in the UK, bottled water companies provided emergency supplies when mains water services broke down. Their largely unsung actions gave the companies a chance to demonstrate...
Attention has been focused on the Indian bottled water sector over the last week or so as speculation has mounted that Danone and a number of other companies are looking to expand their presence in th...
PepsiCo is poised to change advertising agencies in India for the first time in 18 years, according to local reports....
Bravo Brands is poised to file for bankruptcy, citing the failure of its tie-up with Coca-Cola Enterprises....
A director at Coca-Cole Enterprises has resigned....
The Coca-Cola Co. has moved to have a lawsuit against it in the US dismissed....
San Miguel Corp. has posted a huge leap in net profit for the first half of this year....
Coke has witnessed sales volumes in China increase during its second quarter and plans to focus on investing in the market for the future, according to reports....
- Analysis - SABMiller to add bolt-ons in Africa?
- A-B InBev's Move on Tennent's Super Makes Sense
- India: Everyone's Favourite Spirits Market
- Brand Diversification Driving Craft Brewery Growth
- Analysis - Stock Spirits: Poland's number one
- Diageo scraps Arthur's Day, but singer left sad
- Pernod Ricard's Café de Paris Pear, Pomegranate
- PepsiCo CEO sees "profound" change in US consumers
- William Grant sinks GBP185,000 into "No" camp
- SodaStream silent on John Lewis pullout in UK