Coca-Cola shrugs off look-alikes
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.MAGNUS GRIMOND
Coca-Cola is seeing no let-up in demand for the world-famous drink, despite the launch of look-alike products such as Richard Branson's Virgin Cola and Sainsbury's Classic.
The company, based in Atlanta, Georgia, said yesterday it remained on course for its target of 8-10 per cent average international unit volume growth for this year, as it announced second-quarter net profits raised from $758m to $898m.
International unit case volume grew 11 per cent, with gains of 10 per cent in Latin America, 11 per cent in the Middle and Far East and 6 per cent in the United States. The strong performance follows double-digit percentage growth in international case volumes in each of the past four quarters.
Roberto Goizueta, chairman and chief executive, said: "The most noteworthy fact of our continued growth momentum is the broad strength our business is showing in every geographical region of the globe.
"At the half-way point of 1995 these results put us solidly on track to achieve our publicly-stated long-term goal of average annual international unit volume growth of 8-10 per cent."
Worldwide shipments in gallons grew 8 per cent, making a 10 per cent rise for the year to date. In the flagship US market, case volumes expanded 6 per cent, although total North American gallonage was up only 3 per cent in the quarter.
At Coca-Cola Foods, unit volumes fell 3 per cent in the second quarter "as the division began to implement a strategy to adjust the balance between price promotions and brand-building marketing investments", the company said.
Earnings per share were 71 cents, up from 59 cents before and in line with analysts' forecasts. The second-quarter figures fed into first-half results showing net profits up from $1.28bn to $1.54bn in the six months to June. Revenues rose from $7.69bn to $8.79bn and half-year earnings per share advanced from 99 cents to $1.21.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments