Coca-Cola India Q2 Growth Up By 33%  Coca Cola |
The soft drink major, Coca-Cola, registered a 33% growth in sales in India during the second quarter ended July 3.
Supported by the high growth in India as well as China, the company also saw its revenues increase to $2.04 billion, or 88 cents per share, in the quarter under review, as against $1.42 billion, or 61 cents per share, earned in the year-ago period.
The total volume of beverages sold worldwide grew by 4%, with international sales going up by 5%. Sales rose 33% in India and by 14% in China. Coca-Cola gets the bulk of its revenue from overseas sales.
"We believe our unique global franchise model is the best way to win in the market," company chief executive Muhtar Kent said in a statement on Tuesday. "In the first half of the year, we delivered volume and profit results in line with our long-term growth targets, despite very challenging global economic conditions," Kent said.
"Our investments in key growth markets contributed to the good performance in China, Mexico, India and Brazil."
Saying that the company was on track to achieve the $500-million target in annualised savings by 2011, Kent added that it had also begun rolling out its 2020 Vision.
"Our 2020 Vision roadmap is to bring a new clarity and focus to our global business and is ensuring that our system is ideally positioned to make the most of the abundant opportunities ahead of us."
