Atlanta, July 18: Coca-Cola, the world’s largest soft drink company, reported an 11% jump in net income due in part to solid sales in Europe and North America, its two most important markets. For the second quarter, Coca-Cola earned $1.4bn, or 55 cents a share, compared with $1.2bn, or 49 cents a share, in the same period last year. Revenue surged to $5.7bn from $5.4bn a year earlier.

Coke said results were spurred by 20% growth in sales of its juices, waters and other non-carbonated beverages. Sales of soft drinks rose a more modest 2%. Reversing sluggish sales of core brands, such as its flagship Coke Classic product, has been a top priority for Coca-Cola since it embarked on a sweeping restructuring of its operations in early ‘00.

Some analysts had speculated that Coke’s results would be hurt by tough economic conditions in many of its more than 200 markets around the world as well as by the impact of an unusually wet spring in the United States.
Consumers tend to buy more soft drinks and other beverages when the weather is hot and dry. Bureau Report