Zero Sugar gives Coca-Cola a boost - share price rises

22-Oct-2019 - USA

The US beverage giant Coca-Cola posted strong business growth in the third quarter thanks to its "Zero Sugar" sales hit. Compared to the previous year's figure, revenues rose by eight percent to 9.5 billion dollars (8.5 billion euros), as the Pepsi rival announced on Friday in Atlanta. Net profit even increased by 38 per cent to 2.6 billion dollars on balance.

Coca-Cola continues to benefit from a shift towards less sugary beverages and a broader range of tea and coffee products.

The past quarter shows that the strategies are well received by customers, announced CEO James Quincey. The figures were well received by investors, with the share initially rising by just under two percent before the IPO, but then falling again to 0.5 percent. Since the beginning of the year, the share price has climbed by almost 14 percent. The results were better than analysts had expected and the Group gave an optimistic outlook.

For the current year, the Group now expects organic sales growth of at least 5 percent. So far, expectations have been around 5 percent. In Asia in particular, business continues to be good, while sales in America almost stagnated in the third quarter. A recent burden was the strong dollar, which reduced foreign income after conversion into US currency./hbr/knd/jsl/fba (dpa)

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