Farming & Food

Coca-Cola sales fizz as people get out and about again

Soft drinks giant raises full-year projections as net sales surge 42% in second quarter

Coca-Cola raised its full-year sales and profit forecasts on Wednesday, as demand rebounds with the re-opening of cinemas, restaurants and stadiums. Photograph: Olivier Douliery / AFP

Wed Jul 21 2021 - 16:25

Coca-Cola Co raised its full-year sales and profit forecasts on Wednesday, as demand rebounds for its beverages with the re-opening of cinemas, restaurants and stadiums.

Shares of the world’s largest soft drink maker rose 2 per cent in early trading.

Revenue in Coca-Cola’s North America business rose 28 per cent in the second quarter, helped by the vaccine-aided reopening of public venues and easing of capacity restrictions across the United States.

The company said it expects annual organic revenue to rise 12 per cent to 14 per cent, compared with its prior forecast of a high single digits increase.

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Annual adjusted earnings per share are expected to rise 13 to 15 per cent, compared with a prior forecast of a high single digits to low double digits increase.

Net revenue rose 42 per cent to $10.1 billion in the second quarter to July 2nd. The company had reported a 28 per cent slump in total net revenues in the year-ago quarter due to the lockdowns. – Reuters

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