US: The Coca-Cola Co profits soar in H1
- First-half consolidated net profits rise by 18% to US$4.72bn
- Sales climb by 44% to $23.25bn
- Operating profits increase by 10% to $5.45bn
- Volume growth across all five geographic operating groups
Coca-Cola's profits soared 44% in the first-half
The Coca-Cola Co has recorded an increase in first-half profits, driven by strong worldwide volume growth of 6%.
For the six months to 1 July, consolidated net profits climbed by 18% to US$4.72bn. The increase was due in part to Coca-Cola's acquisition of its largest North American bottler last year. The rise was also boosted by worldwide volume growth of brand Coca-Cola, which was up by 3% year-to-date, the soft drinks giant announced today (19 July).
Operating profits in the period rose by 10% to $5.45bn, while sales soared by 44% to reach $23.25bn.
In the company's second quarter, consolidated net profits reached $2.8bn, an 18% increase on the prior-year period. Operating profits climbed by 15% to $4.17bn, while the firm achieved 47% sales growth to $12.84bn.
In Eurasia and Africa, group volumes increased by 8% in the first-half, while year-to-date volumes in Europe edged up by 3%. The firm's Latin America division recorded volume growth of 7%, and North America's volumes grew by 5% in the period.
Coca-Cola's chairman and CEO, Muhtar Kent, professed himself pleased with the results.
“We completed the second quarter of 2011, and the sixth quarter of our 2020 Vision, by delivering results ahead of our long-term growth targets,” Kent said. “Importantly, we are delivering these strong results at a time when global macroeconomic conditions are at best mixed.”
Click here to view the earnings release.
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