Coca-Cola Profits Soar After Bottler Buyout

Acquiring the North American bottling business of Coca-Cola Enterprises added $5 billion to bottom line.

Coca-Cola reported on Feb. 9 soaring profits that beat expectations. Fourth-quarter profit more than tripled to $5.8 billion, from $1.5 billion in the same period a year earlier.

Revenue jumped 39% in the October-December period to $10.5 billion, buoyed by an 8% rise in sales in North America. Worldwide, sales rose 6%.

The acquisition of the North American bottling business of Coca-Cola Enterprises resulted in a $5 billion one-time gain, the company said.

For all of 2010, profit jumped 73%t to $11.8 billion.

Annual sales rose 13% to $35.1 billion, also exceeding estimates.

Muhtar Kent, CEO, said that Coca-Cola was entering 2011, its 125th year in business, "with solid momentum."

"While we recognize that challenges remain in our worldwide marketplace, we are confident that we are advancing our global momentum to deliver long-term sustainable growth and value for our shareowners," he said.

Copyright Agence France-Presse, 2011

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