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Coca-Cola bolstered by strong India growth
NEW YORK, USA: Coca-Cola on Tuesday, 20 April 2010, reported a modest growth in sales in the first quarter, as a dip in the US market was offset by solid growth in India and other emerging markets.
The company said its net income rose 20% versus the same quarter a year ago, as sales in traditional markets in Europe and the United States continued to languish.
Trade volumes were up 3% across the globe as the US market fell back 2% and developing markets continued to grow.
"The strong brand Coca-Cola growth came from a diversity of global markets, including double-digit growth in India, Vietnam, the Philippines, Brazil, Russia and Egypt," the firm said in a statement.
Sales volumes increased 29% in India and 12% in Brazil, the Atlanta-based company said.
"Despite expected ongoing challenges in global economic conditions, we continue to invest in our business and build the health of our brands," said chief executive Muhtar Kent.
"I am once again pleased with the results of the quarter."
The company, which has more than 500 sparkling and still beverage brands, posted a $6.82-billion profit in 2009, a rise of 18% from the previous year.
Source: AFP
Source: I-Net Bridge
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