TURKEY: International sales boost Coca-Cola Icecek Q1

By | 30 May 2007

Coca-Cola Icecek has posted a strong lift in sales for its first quarter.

The Turkey-based Coke unit said today (30 May) that net sales for the first three months of this year rose by 17.2% year-on-year to TRY321.7m (US$241.5m). Net income for the quarter also followed suit, up 23% to TRY4.3m compared to TRY3.5m in the corresponding period a year earlier.

While net sales in Turkey were up by 11.5% to TKY262.3m, International sales leapt by 45% to TKY60.2m. The company credited the international lift to strong volume improvement across all markets. "The net sales increase is mostly attributable to volume increase and partially due to a favourable package mix shift, local price increases and local currency appreciation against the US Dollar," Coca-Cola Icecek said.

"We have successfully grown revenues ahead of volume and EBITDA ahead of revenue again in the first quarter," said company CEO Michael O'Neill. "The market slowdown we experienced in Turkey in the last quarter of 2006 continued, although to a lesser extent in the first quarter of this year.

"We are very encouraged by the performance of all operations and in particular the strength in our international operations has helped offset some of the market slowdown in Turkey. We operate in growing economies that offer significant opportunities for expansion and our business is well positioned to capture that growth."

O'Neill forecast that volume guidance of high single digit to low double digit will be achieved this year.

Sectors: Beer & cider, Water

Companies: Coke

View next/previous articles

Currently reading -

TURKEY: International sales boost Coca-Cola Icecek Q1

There are currently no comments on this article

Be the first to comment on this article

Related articles

US: Coca-Cola premieres seasonal TV advertising

Coca-Cola North America has unveiled a new television advert aimed at family audiences across the US.

INDIA: Coca-Cola Co to team up with Tata Tea - report

Coca-Cola India is reportedly in talks to create a joint venture in the country with Tata Tea.

SWITZERLAND: Coke endows chair at IMD

Soft drinks giant Coca-Cola has endowed a professorship of consumer insight and marketing at the IMD business school in Lausanne.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page