Coca-Cola reports strong Q3 profit | Progresiv
Coca-Cola Co has reported better-than-expected profit for its fiscal third quarter, and said it will speed up efforts to reduce sugar in its drinks. 
For the quarter, net profit was down 28% to 1.05 billion dollars, while revenue was down 7% to 10.63 billion (+3% on an organic basis). The group attributed the drops to currency fluctuations and global political uncertainty, but the results topped analysts’ estimates.
Sales in North America were up 3%, despite flat volumes of carbonated drinks, as noncarbonated drinks reported a 2% volume growth. Sales in developed markets were up, with volumes growing by 2%.
The group said it will launch more sugar-free, low- and no-calorie products in the future, noting that it currently has more than 200 reformulations ongoing to lower sugar in its products.
The group also unveiled six new franchising agreements with bottlers, which means it will have refranchised territories that account for about 65% of all US bottler-delivered distribution volume. It added that it plans to refranchise all its North American territories by end-2017. (www.kamcity.com)
