just the preview – Coca-Cola Co's Q1
Coca-Cola to release Q3 results tomorrow
The Coca-Cola Co is set to release the results from its first quarter tomorrow (20 April). Below, we take a look at the highs and lows for the firm in the three months to the end of March.
- At the start of the year, Coca-Cola launched a campaign in the US to coincide with the Vancouver 2010 Olympic Winter Games in Canada. The campaign, anchored by a group of US Olympians, involved limited edition Olympic Games-themed packaging, media and digital experiences.
- In February, Coca-Cola said it was working with police in China to determine how two people fell ill with suspected mercury poisoning after reportedly drinking Sprite. Police in Beijing investigated possible links between the Sprite soft drink and two suspected cases of mercury poisoning, in November last year and January 2010.
- Also in February, the firm highlighted Eastern Europe as a “troubled” region for its soft drinks volumes over the last year. Speaking at the company’s earnings conference, group CEO and chairman Muhtar Kent also said that Coca-Cola had seen some “good results” in its business in Western Europe for 2009.
- Later that month, Coca-Cola announced the acquisition of the North American operations of its largest bottler, Coca-Cola Enterprises (CCE). The deal, the firm said, would “strategically advance and strengthen” its partnership with CCE and “drive long-term growth” for all shareholders. The acquisition included consideration of Coca-Cola’s current 34% equity ownership in CCE, valued at $3.4bn.
- Finally, earlier this month, the company upped its stake in smoothie maker Innocent Drinks to 58%. The deal involves Coca-Cola buying the shares of Innocent’s two original start-up investors, who want to retire. In addition, each of the founders of Innocent will relinquish a minority of their own shares, but retain the majority of them. Financial details were not disclosed.
To read Coca-Cola's Q4 and FY results, click here.
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