Financial news, 20 July 2011: Coca-Cola, Yum, First Milk

Shaun Weston20 Jul 2011 (Updated 21 Jul 2011)

The latest financial news for 20 July 2011 includes Yum! Brands, The Coca-Cola Company, Gerresheimer and First Milk.

The Coca-Cola Company reports strong second quarter and year-to-date 2011 operating results, meeting or exceeding long-term growth targets and gaining volume and value share in total NARTD beverages. Reported worldwide volume grew 6% in both the quarter and year-to-date. Excluding new cross-licensed brands in North America, primarily Dr Pepper brands, worldwide volume grew 5% in the quarter and year-to-date. The company achieved broad-based volume growth in the quarter across each of five geographic operating groups, with growth of 7% in Eurasia and Africa, 7% in Pacific, 6% in Latin America, 5% in Europe, and 4% in North America. Excluding new cross-licensed brands, North America volume was even in the quarter and grew 1% year-to-date. See more ...

Yum! Brands Inc reported results for the second quarter ended 11 June 2011, including EPS of $0.66, excluding Special Items. After a Special Items loss of $0.01, reported EPS was $0.65. Operating profit grew 25% in China and 11% at Yum! Restaurants International, prior to foreign currency translation. Operating profit declined 28% in the US, resulting in a worldwide operating profit decline of 2%, prior to foreign currency translation. Worldwide operating profit increased 3% after foreign currency translation.

Gerresheimer was able to achieve marked growth in revenues in the second quarter of the 2011 financial year of 5.9% to €284.5m.

First Milk has delivered pre-tax profits of £7.2m (2010: £360k). Group turnover was £573m (2010: £536m), an increase of 7% on 2009/10.