Coca Cola blames economic uncertainty for flat profits
October 21, 2009
Soft drink giant Coca Cola has announced that it has seen a drop in overall sales this year compared to last year but said that the results were not entirely unexpected because of the global recession. It has however reported a growth in sales across emerging markets. Net operating revenues fell by 4 percent in the third quarter to $8.04 billion compared with the same period in 2008. However foreign markets such as china saw a rise in sales. China’s Coca Cola sales rose by 15 percent and in India sales went up by 37 percent.
In its North American home however the world’s leading soft drink brand fell by 4 percent. Chairman and CEO of Coca Cola, Muhtar Kent said that he expected sales to remain flat for 2010 as consumers recovered from an uncertain economic climate. He went on to point out that he believed the long term prospects for the company were good because he felt certain that Coca Cola was executing the right strategies and had the right team in place to drive future growth.
Diet Coke recently teamed up with Patricia Field who is a stylist in New York to design and produce bags that are manufactured entirely from recycled bottles. The bags will be offered free to customers in Boots whenever they purchase two bottles of Diet Coke.
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