Coca-Cola says marketing key to growth

Coca-Cola’s chief executive says marketing will play a key role in “defining new growth opportunities” for the rest of the decade.

Muhtar Kent, chairman and chief executive officer of the Coca-Cola Company, was speaking as the soft drinks giant reported “strong” worldwide revenue growth of 5% to $8.4bn (£5.34bn) in its third quarter.

Kent says that the performance proves that it, alongside its bottling partners, “are executing with excellence around the world”.

“Our strategies, our brands, our marketing, our innovation, our partnerships and our people are defining new growth opportunities today and shaping our system’s vision for this decade,” he adds.

The company adds that it gained global volume and value share in both core sparkling and still beverages.

The company’s sparkling brands, which include Coca-Cola, Fanta and Sprite, reported volume growth of 3%.

Its still drinks portfolio, which includes Powerade and Glacéau Vitaminwater, saw volume growth of 11%.

Net profit rose 8% to $2.05bn (£1.3bn) in the quarter, the company says.

Kent continues: “This quarter, once again, underscores how we are advancing our 2020 Vision from a position of strength as we enter a new era of growth for The Coca-Cola Company”.

Coke adds that it “saw volume growth” in Great Britain but did not offer figures.

Rival PepsiCo recently reported a profit increase of 12% for the latest quarter.

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