US: The Coca-Cola Co sees volumes rise in year-to-date
- Net profits for year-to-date increase by 3.3% to US$7.15bn
- Net sales in nine months to 28 September climb by 3% to $36.56bn
- Operating profits rise by 4.6% to $8.60bn
- Group volumes up by 5%, with Q3 increases in all regions
The Coca-Cola Co has posted slight profits and sales growth
The Coca-Cola Co has posted slight rises in both sales and profits in the year-to-date, as global volumes increased by 5%.
The soft drinks giant said earlier today (16 October) that net profits in the nine months to 28 September increased by 3.3% to US$7.15bn. Net sales climbed by 3% to $36.56bn over the same period while operating profits were up by 4.6% to $8.60bn.
However, currency-neutral sales increased by 6%, as the strength of the dollar damaged overseas trade. Most of Coca-Cola's sales come from outside the US. Europe also proved a drag on profits, posting a 14% drop in operating profits for Q3 and an 8% drop for the year-to-date.
Q3 net profits in the three months to 28 September increased by 3.9% to US$2.3bn, while net sales rose by 0.7% to $12.34bn over the same period. Operating profits were up by 1.4% to $2.79bn for the quarter.
The third quarter saw overall volumes grow by 4% with North America posting 2% volumes growth and Europe, which has struggled in recent results, seeing 1% growth. Emerging markets (+7%) continued to drive volume growth, with Thailand (19%) and India (15%) showing the most impressive changes. China delivered 2% volume growth in the quarter and 6% growth year-to-date, possibly affected by the economic slowdown in the country.
Coca-Cola chairman & CEO Muhtar Kent said the company has been able to “crack the calculus for growth” in a difficult trading environment.
“We continue to deliver consistent and solid performance, with our business growing worldwide volume by 4% in the quarter and 5% year-to-date,” Kent said. “Importantly, we realized growth in the quarter across all five of our global geographic operating groups, despite continued volatility in the worldwide economy.”
Worldwide still beverage volumes rose by 10% in the quarter and 9% year-to-date, the company said, while sparkling volumes were up by 3% across the quarter and the year. Worldwide brand Coca-Cola volumes grew 2% in the quarter and 3% year-to-date, while energy drinks volumes jumped by 19% in the quarter.
To read the company's official statement, click here.
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