partlycloudy
Saturday February 6th, 2016 8:27PM

Coca-Cola's profit rises on growth overseas

By The Associated Press
NEW YORK (AP) -- Coca-Cola says its profit rose 13 percent in the fourth quarter as the world's biggest beverage company sold more of its drinks in emerging markets and benefited from a shift in the calendar that resulted in two extra selling days.

The Atlanta-based company said global sales volume rose 3 percent, driven by gains in countries such as Russia and Turkey. In North America, its biggest market by revenue, volume rose just 1 percent, boosted by its Powerade sports drinks and bottled teas. Soda volume declined 2 percent.

The results come as Coca-Cola, which also makes Fanta, Minute Maid and Dasani water, relies on a shifting mix of drinks for growth in North America amid intensifying criticism of sugary sodas. Give the saturated U.S. and European markets, Coca-Cola is also increasingly looking for growth in countries where the ranks of middle-class customers are growing and its products aren't yet as widely consumed as they are back at home.

In the U.S., meanwhile, Coca-Cola has been dealing with a broader decline in soda consumption for years. Although Coca-Cola said soda volume for North America declined in the quarter, the company said it increased its share of the market in both carbonated and non-carbonated drinks. The exception was bottled water, where Coca-Cola noted that it kept its higher prices steady on Dasani.

Overall volume in Europe declined 5 percent, which the company blamed on the uncertain economy, bad weather and price competition. Sodas declined 5 percent and non-carbonated drinks fell by 3 percent.

For the October-to-December period, The Coca-Cola Co. earned $1.87 billion, or 41 cents per share. That's compared with $1.66 billion, or 36 cents per share, in the year-ago period. Not including one-time items, the company said it earned 45 cents per share.

Revenue rose 4 percent to $11.46 billion.

Analysts on average expected an adjusted profit of 44 cents per share on revenue of $11.53 billion.
© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 2 years ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 2 years ago )
Kerry seeks framework for Mideast peace talks
A senior State Department official says Secretary of State John Kerry will try this week to get Israel and the Palestinians to agree on a framework for negotiating a final peace agreement, yet cautions against raising expectations for Kerry's latest round of shuttle diplomacy.
1:35PM ( 2 years ago )
U.S. News
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 2 years ago )
Amtrak to suspend some Crescent service in Jan., Feb.
Amtrak service will shut down in parts of the Southeast for several days in January and February for rail maintenance by Norfolk Southern Railway.
9:00AM ( 2 years ago )
Lung cancer scans urged for some smokers, not all
Certain current or former heavy smokers should start getting yearly scans for lung cancer to cut their risk of death from the nation's top cancer killer, government advisers said Monday - even as they stressed that the tests aren't for everyone.
7:26AM ( 2 years ago )
Business News
Sex offender held in Hall County for failing to register
A 47-year-old man was booked into the Hall County Jail Tuesday, being held without bond for allegedly failing to register as a sex offender, his second such arrest.
6:09PM ( 2 years ago )
Pharmacy robberies may involve same suspect
Oakwood Police Tuesday afternoon released details in a pharmacy robbery they're investigating, similar to one that happened in the Hall County Tuesday morning.
5:46PM ( 2 years ago )
Victim critical following apartment fire
A 41-year-old woman was in critical but stable condition Tuesday after being rescued from an apartment fire in Forsyth County late Monday afternoon.
3:16PM ( 2 years ago )
Local/State News
More than 20 people arrested by Georgia, Tennessee authorities on sex-related charges
Authorities say more than 20 people have been arrested on charges related to sex trafficking and online exploitation of children in Tennessee and Georgia.
By The Associated Press
6:00PM ( 2 hours ago )
Hall County plans discussion of South Hall traffic signals, maintenance of I-985 exits
Discussions involving the need for more traffic signals in the South Hall area and the maintenance of exits along I-985 in that part of the county are planned by the county commission Monday.
3:00PM ( 5 hours ago )
Labor department, VA team up for employment workshops for veterans
State labor officials are teaming up later this month with the U.S. Department of Veterans Affairs on a couple of employment workshops in north Georgia designed specifically for veterans.
12:01PM ( 8 hours ago )
Neighborhood watch program partners with Hall County Sheriff's Office
​Hall County authorities have partnered with a neighborhood watch website to increase efforts in county neighborhoods.
10:02AM ( 10 hours ago )
East Hall home destroyed by early morning fire, residents evaluated for smoke inhalation
Two people suffered what appeared to be minor smoke inhalation when their mobile home was destroyed in the eastern part of Hall County early Saturday morning.
8:40AM ( 11 hours ago )