Coca-Cola expanding reach worldwide for profit
NEW YORK (AP) — The Coca-Cola Co is continuing to expand its reach worldwide and turning to a variety of smaller drink sizes to boost profits and keep rising commodity costs in check.
The world’s biggest soda maker on Tuesday reported better-than-expected profit for its first quarter as it sold more of its drinks around the globe.
Although the volume growth came from all regions, Coke said increases were far greater in emerging markets. In the region encompassing Russia, India, the Middle East and Africa, for example, volume grew nine per cent, compared with a two per cent increase in North America.
The Atlanta-based company, which has more than 500 brands including Fanta, Sprite and Minute Maid, also had strong growth beyond its sodas as consumers have become more concerned about consuming too many empty calories. Global volume for bottled water grew 15 per cent in the quarter, while volume for energy drinks rose 25 per cent. That surpassed the volume gains in the company’s namesake Coca-Cola soda, which increased four per cent.
Even the slight bump in volume in North America was driven largely by the company’s Powerade sports drinks, Dasani bottled water and zero-calorie vitamin water.