The Coca-Cola Company’s first quarter profits are higher than expected, boosted by a jump in sales in emerging economies. Sales in Russia, India, the Middle East and Africa rose 9 percent, compared with a 2 percent increase in North America, the Associated Press reported.
Consumption grew 20 percent in India, 9 percent in China and 4 percent in Brazil, the New York Times reported.
“That says more than anything that we’ve been able to crack the calculus in this challenging environment,” Muhtar Kent, chairman and chief executive of Coca-Cola, told the New York Times.
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The Atlanta-based drinks manufacturer, which produces more than 500 brands including Fanta, Minute Maid juices and vitaminwater, said it earned $2.05 billion on sales of $11.14 billion in the three months ending Mar. 30, the AP reported. Sales were 6 percent higher than in the same quarter last year.
According to the Wall Street Journal:
Coca-Cola is managing through diverse landscapes by continuing to offer its products in a variety of different sizes and at varied price points to continue to appeal to consumers.
The company has introduced a smaller, 300-milliliter bottle in China to appeal to more consumers in an economy that looks like it might be slowing, the Wall Street Journal reported.
Coca-Cola said the cost of its supplies rose 10 percent in the quarter, but offering drinks in smaller sizes that bring bigger profits helped it offset higher expenses, the AP reported.
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