Global beverages major Coca Cola Company today reported double-digit volume growth in India and China in the first quarter of 2018.
The company, which reported 3 per cent growth in total unit case volume during the period with growth across all category clusters and geographic operating groups, said in the Asia-Pacific region, India and China outpaced more developed markets, including Japan and Australia.
Coca Cola said, in its unit case volume growth of 5 per cent, the region for the quarter was driven by strong performance in China and India, partially offset by a low single-digit decline in Southeast Asia.
It further said, driven by favourable product mix -- as sparkling soft drinks volume grew in double digits in China and India -- its operating income growth outpaced revenue growth for the quarter for the Asia-Pacific region.
Coca Cola said its overall net revenues declined 16 per cent to USD 7.6 billion for the quarter, impacted by a 26 per cent headwind from refranchising of bottling territories.
The company also said trademark Coca-Cola was the largest contributor, with a clear acceleration in all brands under the trademark.
The Coca-Cola Company president and CEO James Quincey said, "We're encouraged with our first quarter performance as we continue our evolution as a consumer-centric, total beverage company.
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