ATLANTA: The Coca-Cola Company posted an increase in earnings of 14.5% to $1.89bn (€1.4bn; £1.1bn) in the third quarter of 2008, with emerging markets forming one of the key drivers of growth as its US performance continues to slow.
Overall revenues were up 9% to a total of $8.39bn, with sales of its uncarbonated brands – such as bottled waters and juices – up by 10%.
Its range of carbonated drinks – including brands such as Fanta, Sprite and Dr Pepper, as well as Coca-Cola – also registered a global increase of 3%.
President/ceo Muhtar Kent (pictured above) emphasised the importance of emerging markets as an area of growth, but also warned that the trading environment is likely to be challenging through 2009.
The company saw overall volume fall by 2% in the US – and operating profits drop by 12% – compared with revenue increases of 24% in Latin America, 17% in Eurasia and Africa, and 10% in Europe.
Kent opines: "Our ability to adapt to changing economic and consumer environments was key to our success during the quarter. We believe that this adaptability will continue to be crucial to the business going forward."
Data sourced from BBC Online (UK)/Wall Street Journal; additional content by WARC staff