Thursday, 27 October 2016

Coke Revenues Loose Fizz

Coca-Cola's global revenues slid 7% in the three months to September as consumers kept the lid on fizzy drinks. The fall to $10.6bn (£8.67bn) was the sixth consecutive quarterly decline in revenue for the world's biggest soft drinks company.  The Latin America and Europe, Middle East and Africa regions both posted a 4% slide in revenues, although North America had 3% growth and Asia rose 4%. Water and sports drinks helped drive a 3% rise in still beverage sales. Net profit also fell 28% to $1.05bn (£859m) in the quarter. The launch of Coca-Cola Zero Sugar in the UK, which replaced Coca-Cola Zero, enjoyed "strong double-digit unit case volume growth". The company's new "One Brand" strategy, which gives Coca Cola, Coke Zero, Diet Coke, and Coca Cola Life a common visual identity, has now been introduced to 12 of its top markets.