Coca-Cola’s first quarter turnover dropped 16 %, but that is still better than expected for the soda manufacturer. Coca-Cola increased turnover 5 % on its own, partially thanks to its sugar-free soda relaunch.
Sugar-free remodeled
Coca-Cola had mixed results for 2018’s first quarter: its quarterly turnover reached 7.6 billion dollar (6.2 billion euro) but it still generated a 5 % turnover increase itself. Thomson Reuters had forecast a 7.34 billion dollar (6 billion euro) turnover, so the company did outperform that forecast. The main reason for the turnover drop is that its bottling activities have undergone a refranchising procedure a few months ago.
Globally, the soda manufacturer’s volumes grew 3 % in every region and for every product group. Coca-Cola’s own drinks mainly contributed to the growth, with sugar-free Cola Light and Cola Zero as the prime contributors thanks to new packaging and innovative new flavours like Feisty Cherry. “We have been looking at ways to bring Coca Light back to the spotlight in a positive way”, CEO James Quincey said. “New looks, new flavours and good marketing are now seemingly paying of.”
The American company grew its 1.2 billion dollar (1 billion euro) net profit from last year to nearly 1.4 billion euro this time around. Coca-Cola forecasts a 4 % autonomous turnover growth for 2018.
