Coke profit boosted by rising global demand

Coca-Cola reported higher quarterly net income, boosted by the impact of currency changes, lower taxes and a late surge in demand…

Coca-Cola reported higher quarterly net income, boosted by the impact of currency changes, lower taxes and a late surge in demand for soft drinks, juices and other beverages.

Shares of the world's largest soft-drink maker, which has been struggling to boost sluggish sales, rose 2.6 per cent in trading before markets opened.

Coca-Cola reported fourth-quarter earnings of $1.2 billion, or 50 cents a share, compared with $927 million, or 38 cents a share, a year earlier. Revenue rose to $5.26 billion from $5.18 billion.

Coca-Cola's unit case volume, a key sales measure in the beverage industry, rose 2 per cent overall.

Volume in North America, the company's largest and most important market, was down 1 per cent in the period.

Coca-Cola executives said the fourth-quarter results showed the company was back on track to deliver sustained growth in its more than 200 markets around the world.

  • Join The Irish Times on WhatsApp and stay up to date

  • Sign up for push alerts to get the best breaking news, analysis and comment delivered directly to your phone

  • Listen to In The News podcast daily for a deep dive on the stories that matter