just The Preview - The Coca-Cola Co Q3
PepsiCo will report results for its fiscal third quarter tomorrow (18 October)
The Coca-Cola Co will report results for its fiscal third quarter tomorrow (18 October). Here, just-drinks brings you highlights of the company's news in the three months to the end of September.
- The quarter began with Coca-Cola's chairman & CEO, Muhtar Kent, warning that the US needs comprehensive tax reform in order for corporations of all sizes to have a level playing field. Kent said businesses need "less bureaucracy to operate and be more competitive".
- In the same month, the company talked of "a very challenging cycle" in Japan in the second half of this year, following the earthquake and tsunami in the country. But, while Kent forecast "ongoing issues around energy, around opening hours for retailers and the like", he said Coca-Cola remained confident of business in Japan normalising over time.
- In August, Coca-Cola pledged investments in Indonesia and China. In Indonesia, Kent said the group is planning "long-term" investment for the country that will be "substantial for job creation". Investment will be made in infrastructure, distribution, marketing and branding. In China, Coca-Cola announced plans to invest $4bn with its bottling partners in the country over the next three years.
- September started with the introduction of a soft drinks tax in France. Following the announcement, Coca Cola France said it was suspending a planned EUR17m (US$24m) investment in the country. A day later, the company reinstated the plan, citing a "communication error", amid a backlash from senior politicians.
- Also in September, Coca-Cola launched its fully recyclable 'PlantBottle' in the UK. The 50cl bottles made from a blend of petroleum-based materials and up to 30% plant-based materials, were rolled out for all Coca-Cola, Coke Zero and Diet Coke beverages. Innovation in September also included the launch of a mini 12oz bottle in the US, to follow the launch of its 16oz bottles last year.
- The end of the month saw Coca-Cola pledge a $3bn investment in Russia over the next five years. An investment programme with its bottling partner, Coca-Cola Hellenic, will begin in 2012.
For Coca-Cola's Q2 and H1 results, click here.
A change in legislation in California this month has put The Coca-Cola Co and PepsiCo in a soft drink pickle. Ray Rowlands, for one, fears a case of history repeating itself....
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