Coca-Cola posts 19% profits increase in Q1

The Coca-Cola Company has hailed its “world-class marketing and innovation” as it posted a first-quarter profit increase of 19%.

The company says it has gained global non-alcoholic ready-to-drink beverage value share and maintained global volume share in the first half of the year, despite tough economic conditions.

It attributes the “continued power of the global “Open Happiness” campaign combined with the initial roll-out of its FIFA World Cup program” for its first half success.

Muhtar Kent, chairman and chief executive officer at The Coca-Cola Company, adds: “Despite expected ongoing challenges in global economic conditions, we continue to invest in our business and build the health of our brands fueled by world-class marketing and innovation. This led to continued value share gains and strong and consistent cash flow.”

Kent says the company is looking ahead to the year 2020, and “are working closely with our bottling partners around the globe, leveraging our scale and the increased presence of our brands.”

The company earned $1.61bn (£1.05bn) in the quarter ending 2April, up from earnings of $1.35bn (£881m) in the same period last year. Revenue rose 5% to $7.53bn (£4.9bn).

The news comes as Coca-Cola undergoes a review of its European marketing and business operations.

Earlier today, it was revealed that Coca-Cola Great Britain’s marketing director Cathryn Sleight is leaving her role after four years.

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