US: Profits climb for The Coca-Cola Co in Q1
- First quarter consolidated net profits climbed by 18% to US$1.91bn
- Net sales soared by 40% to $10.5bn
- Operating profits reached $2.3bn, a 4% rise
- Worldwide volume growth was led by brand Coca-Cola, up by 3% in the quarter.
Worldwide volume growth in Q1 was led by brand Coca-Cola
For the three months to the end of April, Coca-Cola's net profits climbed by 18% to US$1.91bn, the soft drinks giant reported today (26 April). Operating profits reached $2.3bn, a 4% rise on the prior-year period.
Net sales soared by 40% to reach $10.5bn as the group realised significant gains from the Coca-Cola Enterprises deal, completed in October last year. Worldwide volume growth of 6% in the quarter was led by the Coca-Cola brand.
Volume growth in Europe in the quarter was up by 1%, driven by 4% growth in Germany, as well as continued growth in the Northwest Europe and Nordics Region.
Volume in the firm's North American division grew by 2% in the quarter. Sparkling beverage volume however declined by 1%, while still beverage volume was up by 8% in the quarter.
"I am pleased with our first quarter results," said, Coca-Cola's chairman and CEO, Muhtar Kent. "Despite ongoing global geopolitical challenges, we once again delivered consistent, quality growth across all five of our geographic operating groups, with broad worldwide share gains across beverage categories."
Check back later for further insight into Coca-Cola's first-quarter results. Click here for the official earnings release.
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