NEW YORK: Coca-Cola says its profit rose 13 per cent in the fourth quarter as the world's biggest beverage company sold more of its drinks overseas.

The U.S.-based company said global sales volume rose 3 per cent, driven by international growth. In the flagship North American market, volume rose just 1 per cent. Soda volume declined 2 per cent.

The results come as Coca-Cola relies on a shifting mix of drinks for growth in North America amid intensifying criticism of sugary sodas. Give the saturated U.S. and European markets, Coca-Cola is increasingly looking for growth in countries where the ranks of middle-class customers are growing quickly.

In the latest quarter, for example, the company said sales volume rose 12 per cent in Russia and 13 per cent in Turkey.

Volume in Europe declined 5 per cent, which the company blamed on the uncertain economic climate.

For the October-to-December period, The Coca-Cola Co. earned $1.87 billion, or 41 cents per share. That's compared with $1.66 billion, or 36 cents per share, in the year-ago period. Not including one-time items, the company said it earned 45 cents per share.

Revenue rose 4 per cent to $11.46 billion.

Analysts on average expected an adjusted profit of 44 cents per share on revenue of $11.53 billion.

 

Source : economictimes.indiatimes.com