Coca-Cola profits rise in third quarter

WASHINGTON: Coca-Cola's profits rose 8% in the third quarter versus the same period last year, amid growth in its still drinks and international businesses. Profits rose to $2.1 billion, up from 1.9 in the third quarter of 2009.

While volumes increased two percent in North America, it was the rest of the world that once again led the way.

In Eurasia and Africa volume grew 12% including 30% volume growth in Russia, while volume in the Pacific grew 11% in the quarter, supported by 12% growth in China, 11% in Japan and 19% in the Philippines.

"We continue to build on our momentum, delivering solid volume, revenue and profit growth this quarter, with our results exceeding all of our long-term targets and generating sustainable value for our shareowners," said Muhtar Kent, Coke's chief executive officer.

The firm added that "total still beverage volume increased 11% in the quarter, led by continued growth in sports drinks, juices and juice drinks, teas and water brands."

Source: AFP