Fizz goes out of Coca-Cola as company reports mixed results
Coca-Cola has reported a varied set of results for the third quarter, with two per cent global volume growth. (Release)
The soft drinks giant reported two per cent growth year-to-date, too, with international growth of three per cent and just one per cent in the Americas. European volume was down one per cent, although the Pacific saw five per cent growth, and Eurasia and Africa were up four per cent.
Small growth was met with a decline in net revenues which came in at $12.03bn (£7.53bn), lagging behind forecasts of $12.05bn (£7.54bn) and down three per cent (two per cent year-to-date). Operating income dropped 12 per cent – six per cent down for the year to date.
Muhtar Kent, Coca-Cola's chief executive, said:
We delivered sound third quarter results in the confines of an ongoing challenged macroeconomic environment driven by increasing volatility across emerging markets… While we are certainly not immune to the impact of global macroeconomic events, our 2020 Vision and long-term strategies remain firmly intact.