US: The Coca-Cola Co profits climb in Q3
- Third-quarter net profits up by 8% to US$2.22bn
- Operating profits increase by 17% to $2.75bn
- Sales reach $12.25bn, up 45% on prior-year period
- Global volume growth of 5% in quarter and 6% year-to-date
Coca-Cola's third-quarter net profits climbed by 8%
The Coca-Cola Co has reported an increase in third-quarter profits, driven by a strong top-line performance and international volumes growth of 5%.
For the three months to the end of September, net profits climbed by 8% to US$2.22bn. In the nine-month period, profits reached $6.92bn, a 15% increase on the corresponding period last year, the soft drinks firm reported today (18 October).
Operating profits in the quarter were up by 17% to $2.75bn, reflecting a 6% currency benefit and the acquisition of Coca Cola Enterprise’s former North America operations in the fourth quarter of 2010. Year-to-date, operating profits climbed by 13% to reach $8.20bn.
Third-quarter net sales jumped by 45% to $12.25bn, driven by solid growth in concentrate sales, a 5% currency benefit and the CCE acquisition. Nine-month sales amounted to $35.50bn, a 44% increase on last year.
Worldwide sparkling beverage volumes grew by 4% in the quarter, with international sparkling beverage volume up 3%. Still beverage volumes increased by 10% internationally and 4% in North America during the quarter.
“We are pleased with our third quarter results,” said Coca-Cola's chairman & CEO, Muhtar Kent. “For a sixth consecutive quarter, we delivered performance results in line with or ahead of our long-term growth targets. Importantly, we accomplished these results during a time of ongoing global market volatility.”
Click here to view the earnings release.
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