Coca-Cola Posts 'Solid' Third Quarter For 2017
The Coca-Cola Company has reported a 'solid' third quarter, according to its recently published financial results.
The drinks giant also reaffirmed its full-year outlook for 2017.
It notes that Coca-Cola Zero Sugar, in particular, continued to perform well, with case volume growth in the high single digits during the quarter.
James Quincey, president and CEO of The Coca-Cola Company said, "I am encouraged with our progress and results in the quarter."
In the report it indicated that saw net revenues declined 15% to $9.1 billion in the quarter, which it attributes to the ongoing refranchising of bottling territories.
However, organic revenue was up by 4%, and the company's operating margin grew by 200 basis points.
Structural And Cultural Changes
Earlier this week, Coca-Cola North America announced the appointment of Jim Dinkins as its new president.
Denkins previously held the position as the group's chief retail sales officer.
"Our performance reflects the strength of an organisation that is focused on delivering against its financial commitments while also making substantial structural and cultural changes." Quincey added.
The company gained value market share in non-alcoholic ready-to-drink beverages.
This value share growth outpaced volume share, which the group says reflects its continued shift in focus from volume growth to value growth.
© 2017 - Checkout Magazine by Donna Ahern