Coca-Cola sells more drinks, sees higher 1Q profit

THE Coca-Cola Co. said that its net income rose 8 per cent in the first quarter as it hiked prices and sold more of its drinks around the world.

Although volume growth came from all regions, the world's largest soda maker said increases were far greater in emerging markets. In the region encompassing Russia, India, the Middle East and Africa, for example, volume grew 9 per cent, compared with a 2 per cent increase in North America.

The Atlanta-based company also saw strong growth beyond its sodas as consumers have become more concerned about healthy drinking and eating. Global volume for bottled water grew 15 percent in the quarter, while volume for energy drinks rose 25 percent. That surpassed the volume gains in the company's namesake Coca-Cola soda, which increased 4 percent.


Even the slight bump in volume in North America was driven largely by the company's Powerade energy drinks, Dasani bottled water and zero-calorie vitaminwater.
Despite the competition and market saturation at home, CEO Muhtar Kent said: "We believe North America is a growth market for our business."

Total revenue was $11.14 billion for the three months ended March 30, up 6 percent from $10.52 billion a year ago, in large part because of higher prices in areas like North America. Analysts expected revenue of $10.82 billion for the latest quarter. (AP)