Coca-Cola Bottling Co Consolidated sees purchase costs hamper Q1 profits
- Q1 net profits slide by 9.2% to US$2.2m
- Net sales in three months to end of March increase by 16.6% to $453.3m
- Operating profits jump by 39.5% to $16.9m
Coca-Cola Bottling Co Consolidated reported its Q1 results late yesterday
Coca-Cola Bottling Co Consolidated has seen its recent territory expansion in the US benefit its Q1 top-line, although profits in the period were hit by related costs.
Net sales in the first three months of this year jumped by almost 17%, while net profits were down by just over 9%. On a comparable basis, stripping out its new territories, sales grew by 2.9%. Net profits on a comparable basis leapt by 54.5% to $5.1m.
Consequently, the Q1 results include $1.2m of after-tax expenses related to the franchise expansion moves.
"With a busy first quarter behind us, Coke Consolidated is off to a great start to the year," said chairman & CEO Frank Harrison.
COO Hank Flint added: "The early results from our acquired territories show we are experiencing good performance and we look forward to fully integrating these new territories in 2015."
To read the company's official statement, click here.
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