BackCoca-Cola posts 1 pc volume growth in India in April-June
Volume growth in Vietnam was 28 %, Indonesia 22%, Thailand 17% and Japan 1%
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New Delhi: Beverages major Coca-Cola Company posted a volume growth of 1% in India in April-June as the early onset of the monsoon affected sales.
“India volume growth of 1% in the quarter was cycling 20% growth in the prior year quarter and reflects the impact of an earlier and heavier than normal monsoon season in 2013 and cycling a later than normal monsoon season in the prior year," Coca-Cola said in a statement.
The company sells a range of soft drinks and juices in India, including the flagship Coca-Cola, Thums Up, Sprite, Fanta, Limca, Maaza and Minute Maid.
The Atlanta-based firm said its sales volume globally grew by 1 percent in April-June. Volume growth in Vietnam was 28 %, Indonesia 22%, Thailand 17% and Japan 1%.
“Slow economies in Europe, Asia and Latin America, and historically wet and cold weather conditions across multiple regions impacted consumer spending and, consequently, overall NARTD (nonalcoholic ready-to-drink) beverage industry performance," according to the statement.
The company’s net income in the three months ended 28 June fell to USD 2.67 billion from USD 2.78 billion a year earlier. Net operating revenue stood at USD 12.74 billion compared with 13.08 billion in the same quarter last year.
Coca-Cola Company’s chairman and chief executive officer Muhtar Kent said: “Volume results came in below our expectations, reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter."
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