Coca-Cola sees 33 percent growth in India

July 21st, 2009 - 8:55 pm ICT by IANS  

New Delhi, July 21 (IANS) Coca-Cola has registered a 33 percent growth in sales in India during the second quarter ended July 3, the soft drink major said Tuesday.
Supported by the high growth in India as well as China, the company also saw its revenues increase to $2.04 billion, or 88 cents per share, in the quarter under review, as against $1.42 billion, or 61 cents per share, earned in the year-ago period.

The total volume of beverages sold worldwide rose four percent, with international sales going up by five percent. Sales rose 33 percent in India and by 14 percent in China.

The company said its broad geographic footprint, especially in developing markets such as India and China, has helped it weather an industry-wide slowdown in the US.

Coca-Cola gets the bulk of its revenue from overseas sales.

“We believe our unique global franchise model is the best way to win in the market,” company chief executive Muhtar Kent said in a statement Tuesday.

“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,” Kent said.

“Our investments in key growth markets contributed to the good performance in China, Mexico, India and Brazil.”

Maintaining that the company was on track to achieve the $500-million target in annualised savings by 2011, Kent said it had also begun rolling out its 2020 Vision.

“Our 2020 Vision roadmap is bringing new clarity and focus to our global business and is ensuring that our system is ideally positioned to make the most of the abundant opportunities ahead of us.”

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