Diet drinks and bottled water sales fuel third-quarter growth at Coca-Cola
Coca-Cola recorded that organic revenues grew 6% in its third-quarter, lifted by bottled water and low-sugar drinks sales.
While net revenues for the quarter declined due to the refranchising of its bottling operations, the company delivered broad organic revenue and volume growth across all operating groups during the period.
The beverage firm cited double-digit volume growth of Coca-Cola Zero across all groups and its drinks like Fuze Tea and smartwater also performed well.
On a like-for-like basis, Coca-Cola's revenues rose 6%.
Latin America was the company's fastest-growing region, reporting a 19% increase, while Europe, the Middle East and Africa rose 9%.
North America showed slower growth of 2%.
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"We continue to be encouraged by our performance year-to-date as we accelerate our evolution as an even more consumer-centric, total beverage company," said James Quincey, President and CEO of The Coca-Cola Company.
"The recent leadership appointments are intended to help accelerate the transformation of our company."
This week, the Coca-Cola Company announced that it had created a new Global Ventures Group to help scale new brands and identify opportunities to get “maximum value out of acquisitions."