COCA-COLA reported better-than-expected quarterly results yesterday and announced a new cost-savings program yesterday that it will use to boost its brands and mitigate higher commodity costs.
Coke’s results were “solid” given the weak global economy, said Consumer Edge Research analyst Bill Pecoriello.
Coke’s new productivity programme is targeting annual savings of $350m (£220.3m) to $400m by the end of 2015. The company also raised its target for savings from the integration of its North American bottling operations by $200m to $250m.
Coke said global revenue rose five per cent in the fourth quarter to $11.04bn as it gained market share in several drink categories.
Quarterly net income was $1.65bn, down from $5.77bn a year earlier, when the company recorded a gain related to the acquisition of its North American bottling operations.
