TURKEY: Coca-Cola Içecek reports strong Q3
Coca-Cola Içecek, the Turkish unit of Coca Cola Co., has seen its sales and earnings exceed expectations during the first nine months of the year, thanks in part to successful local marketing.
Net sales increased 45% to reach TRY1.4bn (US$938m), while operating profit leapt 57% to TRY248.9m.
Coca-Cola Içecek CEO Michael O'Neill said: "CCI has experienced strong growth in all operations across all markets in the first nine months of 2006. We entered the summer season having completed the necessary capacity investments while placing additional coolers. Effective local marketing programmes and merchandising initiatives in the third quarter enabled us to reach these impressive results.
"In August we launched the new Coke Side of Life campaign in both Kazakhstan and Kyrgyzstan, following the successful launch of this campaign in Turkey earlier this year. Turkey and Jordan benefited from the successful Ramadan promotions in September."
During the company's third quarter, volume grew by 44.4% to 148.7m unit cases, Net sales reached TRY593.4m, up 51.6%, and EBITDA was TRY122.4m, a 71.7% increase over prior year.
"Our consistent growth through the first and second quarters has been sustained in the third quarter," added O'Neill.
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