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Strong Q3 growth for Coca-Cola; India volumes up 19 pc

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Strong Q3 growth for Coca-Cola; India volumes up 19 pc

The India volume for Coca-Cola grew 19 per cent in the third quarter, the beverage company’s 21st consecutive quarter of growth, with strong 19 per cent growth in sparkling beverages, led by integrated marketing programmes across music, sports and reality media programming.

Coca-Cola’s Eurasia and Africa Group’s volume increased 6 per cent in the quarter and 7 per cent year-to-date, led by strong results in India (+19 per cent) and the Middle East and North Africa (+9 per cent).

The company continued to see growth in sparkling beverages, with worldwide brand Coca-Cola volume growth of 3 per cent in the quarter driven by a number of markets around the world, including 17 per cent in India, 11 per cent in Argentina, 7 per cent in China, 6 per cent in Mexico and 5 per cent each in France, Germany and Great Britain.

In a prepared statement, Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company, said, “We are pleased with our Q3 results. For a sixth consecutive quarter, we delivered performance results in line with or ahead of our long-term growth targets. Importantly, we accomplished these results during a time of ongoing global market volatility, which is a testament to our clear and focused system vision, strong brands and solid execution. As we said when we launched our 2020 Vision, we are a growing business that is continually adapting to ever-changing economic circumstances and consumer preferences, underscoring the strength and resilience of our business.”

Worldwide still beverage volume grew 9 per cent in the quarter, led by growth across the portfolio, including juices and juice drinks, ready-to-drink teas and water brands. Still beverage volume in the quarter grew 10 per cent internationally and 4 per cent in North America. Minute Maid Pulpy continues to expand globally and achieved 20 per cent growth in the quarter. Water volume grew 11 per cent in the quarter as the company continues to focus on innovative and sustainable immediate consumption packaging such as its PlantBottle in North America, which is driving new customer listings, and the lightweight crushable bottle for water brands in Asia and Latin America.

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