Internationally, the company achieved broad-based unit case volume growth of 5%, cycling 5% growth in the prior year quarter. In the quarter, unit case volume growth increased strongly in key emerging markets, with 33% growth in India and 14% growth in China. The company realised sound unit case volume growth in other key markets around the world, including Japan, Brazil, Mexico, Argentina, Thailand, Korea and northwest Europe.
Globally, Coca-Cola gained volume and value share in non-alcoholic ready-to-drink beverages for the eighth consecutive quarter. Through its global ‘Open Happiness’ campaign, it continued to grow brand Coca-Cola, up 3% in the quarter. Notably, brand Coca-Cola growth was strong across developed and emerging markets, including 3% growth in Mexico, 5% growth in Japan, 6% growth in China and 29% growth in India.
Sparkling beverage unit case volume increased 2% in the quarter, with international sparkling beverage unit case volume increasing 4%, cycling 2% growth. Still beverage unit case volume increased 8% in the quarter led by sound growth across the portfolio, including juices and juice drinks, sports drinks, teas and water brands. Still beverage unit case volume increased 12% internationally and 1% in North America.
“We continue to deliver solid operating performance,” said Muhtar Kent, chairman and CEO, The Coca-Cola Company. “In the first half of the year, we delivered volume and profit results in line with our long-term growth targets, despite very challenging global economic conditions. We outperformed the non-alcoholic ready-to-drink industry in most of our key markets and drove further global volume and value share gains. Our consistent strategies are working, and together with our productivity efforts, we’re prudently focused on investing in the long-term growth of our resilient business. Our investments in key growth markets contributed to the good performance in China, Mexico, India and Brazil. And, with our disciplined approach to productivity initiatives, we remain on track to achieve our $500m target in annualised savings by 2011 and expect to deliver more than half of the savings by the end of this year.”
For the second quarter of 2009, Coca-Cola reported earnings per share of $0.88, a 44% increase vs the second quarter of 2008. Reported earnings per share for the second quarter of 2009 and 2008 included a net charge of $0.04 and $0.40 per share, respectively, primarily related to charges recorded by equity method investees, restructuring charges and asset write-downs.
After considering the items impacting comparability, earnings per share in the quarter were $0.92, a decrease of 9% vs the second quarter of 2008. Year-to-date 2009, reported earnings per share increased 18%, while comparable earnings per share decreased 7%. Earnings per share continue to be negatively impacted by the relative strength of the US dollar vs other currencies around the world.
Source: The Coca-Cola Company
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