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Coca-Cola Co posts in-line Q2 but "more work to do" says CEO Muhtar Kent

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  • Half-year net profits rise by 10.7% to US$4.67bn
  • Net sales in six months to end of June dip by 1.2% to $22.87bn
  • Operating profits in first half of 2014 slide by 12.9% to $4.83bn
  • Q2 net profits jump by 19.8% to $3.11bn
  • Net sales in three months to end of June decrease by 3.3% to $12.16bn
  • Quarterly operating profits fall by 20% to $2.54bn

The Coca-Cola Co has reported a slight dip in half-year sales, with CEO Muhtar Kent acknowledging there is "more work to" in the coming months.

The Coca-Cola Co saw sales continue to flatline in the first half of 2015

The Coca-Cola Co saw sales continue to flatline in the first half of 2015

Sales in the six months to the end of June were broadly in-line with the company's first quarter, when sales were up by just 1%. In volume terms, sales rose by 1% in the half-year and by 2% in the second quarter.

While operating profits were hit by higher operating charges, the company's bottom line was boosted by a net gain from its Monster Beverage Corp stake purchase, which was announced last year.

For a full drill-down into Coca-Cola Co's performance by region, click here

Muhtar Kent, chairman & CEO: "Our second quarter results were in line with our expectations and mark continued progress toward restoring momentum in our global business. While there is more work to do,
we remain confident that we have the right plans in place and are committed to leveraging our superior brand portfolio together with our unparalleled global distribution system to continue creating long-term shareowner value."

Outlook

Coca-Cola said it expects a "one-point headwind on both net revenues and income before taxes" for the full-year as a result of structural items. The group also warned that ForEx fluctuations will have "an unfavourable impact on our reported results in 2015".

Coverage of Coca-Cola's post-results conference call can be found here

To read the company's official statement, click here.


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