Coca-Cola posts 4% growth; India 20%

Coca-Cola today posted a 4 per cent rise in its global sales volume during the quarter.

Written by Agencies | Atlanta | Published: July 17, 2012 9:33:45 pm

Led by markets like India,Japan and China,beverages major Coca-Cola Company today posted a four per cent rise in its global sales volume during the quarter ending June 29.

“The Coca-Cola Company reported strong worldwide volume growth of 4 per cent in the second quarter and 5 per cent year-to-date,” the company said in a statement.

The rise in volume during the quarter was driven by many big developed markets such as Japan with four per cent jump and one per cent increase each in North America and Germany,it added.

The company said it also witnessed “strong growth in key emerging markets such as India (20 per cent),Russia (9 per cent),China (7 per cent) and Brazil (6 per cent)”.

However,some other key regions,including the Europe,saw volume declines.

“Volume performance was soft in regions of Europe such as Central and Southern Europe and Northwest Europe and Nordics,both down 5 per cent in the quarter,as a result of the ongoing economic slowdown and unfavourable weather,” it said.

Coca-Cola,however,reported a fall in its net income to USD 2.79 billion in the quarter ended June 29 from USD 2.8 billion in the year-ago period. Its net operating revenue went up to USD 13.09 billion from USD 12.74 billion.

“We are delivering consistent quality performance in line with our 2020 Vision growth targets,despite a very challenging and increasingly unpredictable global economy.

Notably,we continue to gain global volume and value share by giving our consumers what they are looking for…,” The Coca-Cola Company Chairman and CEO Muhtar Kent said.

Talking about sparkling beverage,the company said the global volume increased two per cent.

“Worldwide brand Coca-Cola volume grew 2 per cent in the quarter and 3 per cent year-to-date,with growth in the quarter across diverse markets,including India (35 per cent),Russia (23 per cent),the Philippines (7 per cent),Brazil (4 per cent),Germany (3 per cent) and Mexico (1 per cent),” the firm said.

It further said during the quarter,Sprite sales grew 29 per cent in India.

On the performance of the Eurasia and Africa Group,the company said the regions witnessed volume jump of 12 per cent in the quarter,led by strong growth in India that increased 20 per cent.

On its Bottling Investments Group’s volume rise of 10 per cent in the quarter,the US-based firm said the growth in the comparable volume was primarily driven by India,China and the Philippines,with strong volume increase and market share gains in sparkling beverages across the group,led by growth of brand Coca-Cola.

Betting big on India,Coca-Cola had last month said it,along with partners,would more than double investments in India to USD 5 billion (about Rs 28,000 crore) by 2020.

The fresh investment,which was higher by USD 3 billion from the previous announcement made in November 2011 for a period of five years,would be on various activities,including setting up of new bottling plants.

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