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The high volume growth in India that helped Coca-Cola record strong sales in 2012 slowed dramatically in the quarter ended March. The company, which had reported 20 per cent volume growth in the quarter ended March 2012, reported volume growth of just eight per cent in India in the quarter ended March this year.
The world's largest soft drink maker, which reported four per cent growth in overall volume sales in the first quarter of 2013, today reported 18 per cent volume growth in Thailand and eight per cent each in India and Russia. China, a major market for the beverage major, reported just one per cent volume growth during the quarter, an improvement from the quarter ended December, despite the economic slowdown and the poor weather, the company said in a statement today.
In the Americas, Coca-Cola volumes rose three per cent.
As a company, Coca-Cola International reported growth of five per cent during the quarter. The company's volume growth in Germany stood at three per cent; for North America and Japan, it stood at just one per cent.
Annual volume growth in European markets was flat during the quarter; sequentially, volume improved, despite the uncertain macroeconomic conditions and the unusual cold weather, according to a company statement. Last year, the company had reported one per cent fall in volumes in Europe.
In terms of brand Coca-Cola sales, the company posted strong growth in India. Sales of brand Coke rose 30 per cent in India, against 38 per cent in Thailand and 15 per cent in Russia. Globally, brand Coca-Cola volumes rose three per cent during the quarter.
The company's net income fell 15 per cent to $1.75 billion during the quarter, against $2.05 billion in the year-ago period, the company said in a statement today. Revenue slipped one per cent to $11.04 billion.
"Guided by our 2020 vision, our road map for winning, together with our global system bottling partners, we enter 2013 and the fourth year of our journey to 2020 focused, and on track to reach our goals. Together, we are working to unlock value, execute with excellence and keep winning volume and value share. I am proud of all we are achieving alongside our customers, bottlers and other partners. Even so, we remain constructively discontent, as we seek to make the most of the vast growth opportunities we continue to see around the world," said Muhtar Kent, chairman and chief executive, Coca-Cola Company.
