Coke Profits Dip in Q4

16 February 2007

ATLANTA: The Coca-Cola Company reported a 22% slide in fourth quarter profits despite a solid gain in sales. Net income fell to $678m (€516m; £346.5m), compared with $864m in the same period last year.

The results were knocked by a $2.9 billion impairment charge at Coca-Cola Enterprises, which bottles and distributes Coke products in North America and Europe and is 36% per cent owned by Coke.

Revenue rose 7% to $5.93bn as a result of strong sales in emerging markets such as Latin America, China and Russia. Ceo Neville Isdell claimed this growth demonstrated the "geographic diversity" of the business.

Data sourced from Financial Times online; additional content by WARC staff