Coca-Cola Profits Soar 18% on Strong North American Sales

Revenue was up 141% in North America due to acquisition.

Soft-drinks giant Coca-Cola said its profits rose 18% in the second quarter, better than expected, on solid volume growth worldwide.

Income was $2.8 billion, up from $2.4 billion in the year-earlier quarter, and earnings per share was up 18% as well to $1.20.

For the six-month period to June, income and earnings per share also were up 18% from a year ago.

Revenue growth was strongest in North America, up 141%, due to contributions from the North American bottling business of Coca-Cola Enterprises, which the company acquired late last year.

Aside from that, revenues and operating income grew strongest, both 21%, in the company's Pacific group, which includes the region from China and South Korea south to Australia and New Zealand.

Sales volume for Coke itself rose 24% in China and 17% in Russia, and made good gains in other key markets including Mexico, France and Germany, the company said.

"Even as consumers around the world continue to feel the impact of a slow economic recovery, they increasingly choose our brands to refresh themselves at a rate of over 1.7 billion servings each and every day," said chief executive Muhtar Kent.

Copyright Agence France-Presse, 2011

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