News

US: China, Brazil buoy Coke H1 results

Most popular

Beverage companies set for tough pricing desicions

Campari faces familiar troubles - analysis

How A-B InBev's Brito changed the drinks industry

Sustainability and responsibility activations

The soft drinks opportunity from on-premise return

MORE

Coca-Cola Co. yesterday (18 July) posted a set of steady first-half results on the back of rising sales in key emerging markets including China and Brazil.

The world's largest drinks company reported a 3% rise in first-half operating income to US$3.4bn on the back of a 2% increase in net revenues to US$11.7m.

Operating profit for the second quarter ending 30 June was up 3% to US$2.03bn with revenues also up 3% to US$6.5bn, Coke said.

The company's most notable performances were in China, where second-quarter volumes leapt 14%, driven by "double-digit" growth from Coke's core carbonated soft drinks stable. Meanwhile, in Brazil, Coke saw second-quarter volumes rise 7%, despite lapping last year's second quarter when volumes leapt 17%.

In Latin America as a whole, operating income leapt 21% due to rising revenues in Brazil, Argentina and Mexico.

Worldwide first-half volumes were up 4%, Coke said, with its Powerade and Dasani brands driving sales growth. Coke also enjoyed growth from its core CSD stable, with its flagship Coca-Cola brand growing volumes by 3% during the second quarter.

However, Coke's performance on a geographical basis remained mixed. The company enjoyed revenue and profit growth in North America but saw first-half revenues slump 16% in the EU largely due to restructuring costs in Spain. Coke insisted that volumes in north-west Europe had "stabilised" as the company saw some improvement in the UK.

Second-quarter volumes in Japan fell 6%, slumped by 12% in India and fell in the "high teens" in the Philippines, where Coke is in talks to buy out local bottling partner San Miguel Corp.

Coke chairman and CEO Neville Isdell said: "Our results clearly demonstrate that the majority of our markets are performing well and more than offsetting the challenges we have in a few markets."


Sectors: Soft drinks, Water

Related Content

First half struggles, but Coca-Cola European Partners prepares for

First half struggles, but Coca-Cola European Partners prepares for "robust" H2 - results data...

Diageo rides US Tequila high as H1 sales grow - results data

Diageo rides US Tequila high as H1 sales grow - results data...

Fourth-quarter volumes knock dents Coca-Cola HBC recovery - results data

Fourth-quarter volumes knock dents Coca-Cola HBC recovery - results data...

How did Coca-Cola European Partners perform in the first half of 2019? - results

How did Coca-Cola European Partners perform in the first half of 2019? - results...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?