Coke posts 20% volume growth in India in Q4
New Delhi: Beverages major Coca Cola Company posted a 20 percent growth in sales in volume terms in India for the fourth quarter, driven by strong growth during the festive season and marketing activities.
The company, which announced its global earnings for the third quarter, said its sparkling beverages grew by 4 percent in the quarter in Eurasia and Africa. The growth was led by brand Coca-Cola which grew 5 percent, it added.
"India volume grew 20 percent in the quarter, our 22nd consecutive quarter of growth, with strong 22 percent growth in sparkling beverages driven by Diwali festival activation and continued success with integrated marketing programs like our Coke Studio music programming," the company said in a statement.
For the full year 2011, the company said it witnessed double digit growth in key emerging markets like India and China.
Globally, the company reported volume growth of 5 percent for the full year and 3 percent during the quarter, it said.
"Volume growth for the full year was well-balanced across the globe, with solid growth in key developed markets like North America, Japan and Germany and double-digit growth in key emerging markets like India and China," it said.
In the fourth quarter, the company's net income stood at USD 1.65 billion, compared to USD 5.77 billion in the same period previous year.
Net revenue stood at USD 11.04 billion as compared to 10.49 billion as compared to the same quarter last year.
Commenting on the company's performance, Muhtar Kent, Chairman and Chief Executive Officer of the Coca-Cola Company, said: "We once again achieved financial results for both the year and the quarter in line with, or ahead of, our long-term targets, with quarterly volume and revenue growth in every one of our five geographic operating groups."
For the full year 2011, the company's net income stood at USD 8.57 billion as against USD 11.80 billion in 2010. Net revenue for the year 2011 was at USD 46.54 billion as compared with USD 35.11 billion in 2010.