Coca-Cola hails a strong third quarter as sales and profit rise


Coca-Cola on Friday reported an 8% growth in the third quarter, with sales rising to $9.5bn, from $8.8bn in the previous year.

The soft drinks giant said that its impressive results were driven by innovation, revenue growth management and improving execution. Price/mix rose 6%, which partially offset a 2% decline in concentrate sales.

Coke noted that consumers were drawn to healthier options like its Zero sugar Coke and smaller size cans. In the US, Coke zero sugar grew double-digit in volumes, while its 7.5-ounce mini-cans grew by 15%.

“Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system,” said CEO James Quincey in a statement.

Outside the US, the company launched Coca-Cola Plus Coffee drink in more than 20 markets and introduced its new Coke Energy drink in at least 25 countries, with a planned debut in the U.S. in January with additional zero-calorie options.

The company said that its results were also helped by initiatives in Brazil where it placed more than 100,000 incremental coolers in the marketplace which led to double-digit transaction growth of immediate consumption priority packages year-to-date.

In Europe, Middle East & Africa, the company said it gained value share in total Non-Alcoholic Ready-to-Drink (NARTD) beverages, led by solid share performance across Europe, partially offset by a value share decline in Nigeria, primarily due to local value brands.

Net profit in the third quarter grew by 38% to $2.6bn from $1.8bn in the same period in the previous year.

The company updated its 2019 guidance for organic revenue growth to 5%.

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