Coke records 10pc rise in Q2; India sales up 12pc | business | Hindustan Times
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Coke records 10pc rise in Q2; India sales up 12pc

business Updated: Jul 17, 2007 20:27 IST

Driven by higher sales volume in India and other emerging markets such as China, Turkey and Brazil, global soft drink giant Coca-Cola on Tuesday reported a 19 per cent rise in its second-quarter revenue to 7.73 billion dollars.

The net income of the company stood at 1.85 billion dollars for the quarter ended June 30, up by less than 1 per cent from 1.84 billion dollars in the year-ago period.

The company reported a worldwide sales growth of 6 per cent, while volume outside the US rose by 9 per cent, the company said in a regulatory filing.

In India, sales increased 12 per cent in the quarter, cycling a decline of 12 per cent in the prior year quarter, the company said.

"Continued investment in building organisational capabilities and focus on improved execution by consolidated bottling operations resulted in solid growth and share gains in sparkling and still beverages," it added.

"The second quarter was a significant one for Coca-Cola Company. Not only did we deliver strong, broad-based growth, but we also successfully completed the acquisition of Glaceau, demonstrating our commitment to restoring growth in our flagship market of north America," Coca-Cola President and Chief Operating Officer Muhtar Kent said.

The company acquired Glaceau, in which Tata Group's Tata Tea also held a 30 per cent stake, earlier this year for about 4.1 billion dollars.

"Our results continue to be led by our international operations, which once again delivered 9 per cent unit case volume growth. Performance in important markets, such as Japan, Germany, India and the Philippines, is showing signs that the actions we've taken are working," Kent added.