Coca-Cola defied sluggish sales in the rest of the consumer goods sector, reporting better than expected revenues in the fourth quarter and volume growth for the full year while continuing to raise prices by as much as a quarter.
The drinks giant said its net revenues in the year to December rose 6 per cent to $45.8bn, driven by average price increases of 10 per cent. Despite the hefty price increases, the volume of drinks sold rose 2 per cent, reflecting solid consumer demand for beverages such as Coca-Cola and Sprite.
“We’re one of the few consumer goods companies that are consistently demonstrating our ability to grow volumes and revenue,” finance chief John Murphy told the Financial Times.
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