Manufacturing Banner
Previous Next

Coca-Cola profit dented by Japan earthquake

Coca-Cola has revealed first-quarter profits that fell slightly short of market expectations.

The US soft drinks firm made $1.9bn (£1.15bn) in the first three months of the year, up 18% from a year ago.

Earnings were 1% lower than expected because of lost revenue from Japan, where sales suffered due to last month's earthquake and tsunami.

But the company benefited from the buy-out of its North American bottling plant last year.

The transaction helped Coke increase its operating revenue by 40% to $10.5bn.

Despite falling short of analysts' expectations in the first quarter, the company expressed optimism about the future.

"As we look [forward], we do so against the backdrop of a global economy that is still rebalancing," said chief executive Muhtar Kent.

But he said the "complex global geopolitical climate" brought "real opportunities and exciting growth prospects".

BBC News

seattle property management