Coca-Cola Reports Flat Profits

Oct. 20, 2009
Growth in emerging markets such as India and China is helping the beverage company weather a slowdown in the United States.

Global beverage giant Coca-Cola on Tuesday reported a nearly flat third-quarter profit, as sales growth in key emerging markets helped overcome difficult economic conditions. The world's top soft drink maker said income rose slightly to $1.896 billion from $1.890 billion a year ago. The income was equivalent to 82 cents a share excluding special items, roughly in line with expectations. Revenue however fell 4% to $8.04 billion. Chief Executive Muhtar Kent said he was pleased with the "solid results.The fundamentals of our business remain strong and our franchise system is delivering results that keep us on track to achieve our long-term growth expectations," he said. Although the company expected consumers to continue facing economic uncertainties into 2010, "We believe more than ever that we have the right strategies being executed ... and have taken the right actions this year to drive continued growth and to make the most of the abundant opportunities before us." Coca Cola's growth in emerging markets such as India and China is helping it weather a slowdown in the United States, which plunged into recession in December 2007. In the quarter, unit case volume growth increased strongly in key emerging markets with 37% growth in India, 15% growth in China and 3% growth in Brazil. Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Discrete and Process Manufacturing 2024 Trends and Outlook for North America

Oct. 29, 2023
Manufacturers are reaping the benefits of automation and cloud-based solutions. Discover what is driving today's industry trends and how they can shape your growth priorities ...

The Ultimate Ecommerce Excellence Checklist

Oct. 2, 2023
Scaling ecommerce operations is no easy task when your business is moving fast. Assess your current ecommerce maturity level and set optimization priorities with this practical...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

The Manufacturer's Guide to Transforming the Service Experience.

Sept. 11, 2023
Learn how a unified data platform can make your service experiences more efficient while reducing costs. Turn your service center into a profit center and map your service transformatio...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!