The Coca-Cola Company has reported that its global volumes increased 5% in the second quarter and 5% for the first six months. Year-to-date unit case growth reflected an increase of 5% in international operations and 4% in North America, the company said.

Carbonated soft drinks contributed 2% growth on a year-to-date basis, while Coke also strengthened its position as the leading marketer of non-carbonated beverages in the world, with 25% growth during the first six months.

The company admitted that it expects the difficult economic environment to continue in many regions, but remained comfortable with the range of analysts' earnings estimates for the full year and its outlook for full year volume remains unchanged.

Doug Daft, chairman and chief executive officer, said: "These results are satisfactory, especially in light of the current economic climate. We will continue working to achieve superior value for our shareowners by delivering strong brands to consumers worldwide.

"Our results include solid growth in our core brands, new brands and the volume contributions of strategic acquisitions, validating our ongoing approach of adding brands to our business that have attractive and profitable growth potential."

Second quarter earnings per share were $0.52, which included a negative impact of $0.02 per share from foreign currencies. This year's EPS compared to EPS of $0.45 on a reported basis for the same period last year. In addition, the prior year second quarter earnings per share included $0.02 per share of incremental marketing.
The company posted net income of $1.29 billion, for the quarter, compared with $1.12 billion a year earlier. Revenue rose 15% to $5.37 billion from $4.65 billion.

New beverages such as Vanilla Coke have helped t drive sales. Analysts said the company is proving it can handle its new, larger beverage portfolio. "This was an as-advertised quarter," said Andrew Conway, an analyst with Credit Suisse First Boston. "Coke remains very much a work in progress, but is on its way to establishing an earnings base and growing off that base, which is something that we haven't seen in four years."