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HomeBusinessChina, India sales pump up Coca-Cola profits

China, India sales pump up Coca-Cola profits

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US BEVERAGE giant Coca-Cola yesterday said net profit jumped 55 per cent in the fourth quarter, lifted by sales volume growth in China, India and other key emerging markets.

The world’s leading soft-drinks maker reported $1.54bn (£98m) in net profit in the final quarter of 2009, in line with market expectations.

The company took a quarterly net charge of 21 cents per share for restructuring charges and costs related to global productivity initiatives.

Full-year profit of $6.82bn (£4.34bn) marked a rise of 18 per cent from the previous year.

Quarterly earnings per share were 66 cents, a shade below the 67 cents forecast by most analysts. For the full year, earnings per share were $2.93 (£1.86).

Revenue in the fourth quarter of $7.51bn (£4.78bn) was up 5.0 per cent from the same period a year earlier, mainly due to an increase in sales volumes.

The company, which has more than 500 sparkling and still brands, reported full-year revenue fell 3.0 per cent to $30.99bn (£19.74bn).

While the North America Group’s unit sales volume slipped 1.0 percent in the fourth quarter, “primarily due to continued macroeconomic pressures impacting consumer spending and foodservice traffic,” The Coca-Cola Company said its international volume rose 6.0 per cent.

Coca-Cola’s growth in emerging markets such as India and China is helping it weather the weak US economy, which is slowly recovering from the worst recession in decades.

In the quarter, unit case volume growth posted strong gains in key emerging markets. Volume soared 29 per cent in China, 20 per cent in India and 8.0 per cent in Brazil.
France led developed markets with a 12 per cent increase in volume.

Muhtar Kent, chairman and chief executive, said that Coca-Cola “ended this year on a high note, delivering global volume and value share gains, comparable currency neutral revenue growth, improved productivity and increased cash flows.”

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