Coca-Cola Revenue is Up
NEW YORK (AP) – The Coca-cola is selling more of it’s sodas sports drinks and bottled waters in most parts of the world, with growth particularly strong in emerging markets.
The worlds biggest beverage maker; which makes minute maid,powerade, dasani_ Tuesday that it’s sales volume rose 4 percent globally in the scond quarte. Revenue growth was powered by higher prices and expansion in countries such as India, where volume increase 20 percent.
Still, the company’s quarterly profit slipped as cost for ingredients climbed as well. The Atlenta- Based company was also up againts a tough comparison, as the year – ago results were boosted by one-time net gain related to the merger of two of the company’s bottler’s.
In it’s flagship North American market, Coca-cola said overall sales volume rose 1 percent, while a mix of higher prices and smaller bottles and cans lifted revenue by 5 percent. Volume for it’s sparling beverages; or sodas such as Coke and Sprite, fell 2 percent.
Soda consumption in general has been on the decline for several years as people lose their taste for sugary sodas and increasingly reach for alternatives, such as sports drinks and bottled teas.Coca-cola CEO Muhtar Kent said he thinks business in the U.S can nevertheless grow once the company eases it’s pricing.
“Dont forget the were cycling in epic headwins in commodity costs” Kent said. As for Mayor Michael Bloomberg’s recent proposal to ban the sale of supersized sugary drinks in New York City, Kent did not say wether he thinks the broader sentiment targetting colas for obesity will impact the business over the long term. But he said that singling out sodas for blame doesnt make sense.
“There are better ways to address concerns about obesity,” he said nothing that Coca-cola has worked to reduce calories in school drinks and put clearer calorie information on the front of...