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Coca-Cola sees profits rise 20%

Category: Business

Published: 20th Apr 2010 15:42:32

Drinks giant Coca-Cola has reported a 20% rise in first-quarter profits, but its results were weaker than analysts had forecast.

The company made a net profit of $1.61bn (£1.05bn) while revenue for the three months rose 5% to $7.53bn.

Coca-Cola is preparing to acquire the North American operations of its largest bottler, Coca-Cola Enterprises.

It expects the move to help it cut costs and give it more flexibility in distributing its drinks.

Pepsi recently agreed a similar deal.

Sales mixed

When trading got underway in New York, shares in Coca-Cola fell 53 cents to $54.79.

Sales by volume rose 3%, led by Eurasia and Africa where volumes were up 11%.

However, volumes fell 2% in North America and were flat in Europe.

Although North America is the world's biggest soft drink market, people have been cutting back on their purchases because of the recession.

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BBC News, 2010. Coca-Cola sees profits rise 20% [Online] (Updated 20th Apr 2010)
Available at: http://www.ukwirednews.com/news/53319/Coca-Cola-sees-profits-rise-20 [Accessed 23rd Apr 2014]

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