Coke India volume continues to grow

Coke India volume continues to grow

The company, which had a net income of USD 1.920 billion in the same period a year ago, attributed the robust growth to its worldwide volume growth of 5 per cent, coming from India, Turkey, East and Central Africa among others.

In India, the firm achieved its 17th consecutive quarter of volume growth, the company said in a statement without specifying details. The strong growth in India is "despite record rainfall in the quarter and cycling very strong 37 per cent growth in the prior year quarter".

Commenting on the company's results, The Coca-Cola Company Chairman and Chief Executive Officer Muhtar Kent said: "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."

While Eurasia and Africa witnessed a 12 per cent volume growth, Russia had 30 per cent and a double-digit growth in Turkey, Southern Eurasia and East and Central Africa. "We successfully completed our acquisition of CCE's North American business and the sale of our Norway and Sweden bottling operations to CCE, on plan and in line with our commitment," Kent said.

The company also said the volume growth was led by brand Coca Cola, up 4 per cent in the quarter and year-to-date. "We also gained volume share in energy drinks. Internationally, we gained volume and value share in total NARTD (Non Alcoholic Ready To Drink) beverages.Incremental volume was evenly balanced between sparkling and still beverages," he said.