Soft drink giant volumes increased in the first half of the year after declining by four quarters.
American the soft drink company Coca-Cola’s earnings exceeded analysts ’expectations in the first quarter as the company’s sales picked up in Asia as interest rate restrictions eased.
The beverage giant said its revenue and volumes turned upward in the quarter ending in early April after a four-quarter decline. Volumes returned to 2019 levels in March, the company said.
The company’s revenue rose about five percent to $ 9.02 billion. Analysts predicted $ 8.63 billion in the IBES-Refinitiv consensus forecast.
Adjusted earnings per share were $ 0.55, or $ 0.05 more than expected.
CEO of the company James Quincey however, warned in an investor call, according to news agency Reuters, that in some of its market areas, new interest rate restrictions could still weigh on its business.
In recent weeks, the rate of coronary vaccination has slowed in South Africa and Africa. Cases of the disease are also on the rise in India.
Managing director Quincey told the TV channel CNBC in an interviewthat the company intends to raise the prices of its products in response to rising raw material prices. The company may make price increases by, among other things, changing pack sizes.
The last time Coca-Cola raised its prices was in 2018. That’s when the reason was the president Donald Trumpin effect of aluminum duties.
Coca-Cola also announced in connection with its earnings announcement that it intends to list its bottling business in Africa as a separate listed company.
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