Coke India posts double digit growth in Q1
Beverage maker Coca-Cola reported unit case volume growth of 5% for the January-March ’18 quarter for the Asia-Pacific region, which it said was driven by ‘strong performance’ in China and India, partially offset by a low single-digit decline in South East Asia. “Operating income growth outpaced revenue growth for the quarter, largely driven by favourable product mix as sparkling soft drinks grew volume double digits in China and India,” the Atlanta-based firm said in an earnings statement. It said its price/mix declined 2% for the quarter, largely driven by negative geographic mix as growth in China and India outpaced more developed markets, the maker of Coca-Cola and Thums Up aerated drinks, Minute Maid juice and Kinley water said.
The company has been working to counter headwinds through pricing and product innovations. “We’ve been learning over the last couple years. We came out with some good marketing, some reinvigorated packaging, shapes, sizes, and looks, and obviously … innovation on the flavours,” chief executive James Quincey said in an earnings call, Tuesday.
Source: Economic Times