US: Coca-Cola Bottling Co profits up in '09

By | 10 March 2010

Coca-Cola Bottling Co boosted by cost controls

Coca-Cola Bottling Co boosted by cost controls

Cost controls and higher prices have helped Coca-Cola Bottling Consolidated to report a strong rise in profits for 2009.

Net profits soared to US$38m for the 12 months to the end of December, compared to just $9m in 2008, the soft drinks bottler said late yesterday (9 March).

After stripping out one-off gains in 2009 and charges in 2008, however, the leap was less pronounced, with net profits rising to $21.9m for 2009 against $19m a year earlier.

Cost controls boosted earnings during the year, while drinks price rises helped to mitigate volume sales declines, said the group.

Net sales were $1.44bn, compared to $1.46bn in 2008, said Coca-Cola Bottling Co. Sales in the fourth quarter rose, however, to $354.4m from $348.4m.

"2009 was a very challenging year for our industry and our company, as it has been for the entire US economy," said group chairman and CEO Frank Harrison.

"We are very pleased with the significant improvement in our reported financial results especially given the challenges in our industry," he said.

For the full announcement, click here.

Sectors: Soft drinks, Water

Companies: Coca-Cola Bottling

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