US: Coca-Cola Bottling Co Consolidated FY profits fall
- FY net profits drop by 4.9% to US$27.2m
- Net sales rise in 12 months to end of December by 3.4% to $1.6bn
- Operating profits up by 1.3% to $88.7m
- Volumes, market share increase
Coca-Cola Bottling Co Consolidated has reported a slight drop in full-year net profits as marketing and staffing costs offset a rise in sales.
Net profits in 2012 fell by 4.9% to US$27.2m, the North Carolina-based bottler said late yesterday (6 March). Sales in the 12-month period were up by 3.4% to $1.6bn.
Operating profits in the period edged up by 1.3% to $88.7m.
In Q4, net profits were flat at 1.8m, while sales rose by 3.7% to $386.7m. Operating profits in the three months were down by 6% to $14m.
Henry Flint, the company's president & COO, said its full-year profits were down due to “significant investments” in people, marketing and technology, but this helped grow volume and marketshare, without offering more detail.
Flint added: “We continue to innovate and evolve packaging and marketing strategies to respond to ever-changing consumer tastes.”
To read the company's full statement, click here.
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