Coke reports 9% revenue increase for Q3

Coca-Cola Company has posted a 9% increase in net revenue for the third quarter of the year and says that it will continue to focus on “effectiveness and efficiency”.

The news comes a day after rival PepsiCo announced that it is cutting 3,300 jobs worldwide after reporting a 9.5 per cent fall in pre-tax profits for its third quarter.

Coca-Cola reported a 16% increase in pre-tax profit to $2.4m (£1.39m) on operating revenues up 9 per net to $8.4m (£4.8m). Pre-tax profits for year-to-date are $6.3m (£3.5m).

Unit case volume increased 5% in the third quarter and 4% year-to-date. International operations delivered 7% unit case volume growth driven by emerging markets.

Europe saw unit case volume increase by 3% for the quarter and 2% for the year-to-date with pre-tax profit up for year-to-date by 15% to $2.5m (£1.5m).

But North America continued to see unit case volume drop with a 2% fall for the quarter and 1% for the year-to-date, with net revenues dropping by 2%.

Muhtar Kent, Coke president and chief executive, says: “We once again demonstrated our ability to perform consistently, delivering our eighth consecutive quarter of double digit comparable earnings growth, despite an incredibly challenging economic environment.”

He adds that there would be an increased focus on investment and efficiency and “continued investment” behind the brands. He say: “Our system’s ability to adapt to changing economic and consumer environments was key to our success during the quarter, and we believe this adaptability will continue to be crucial to the business going forward.”

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here