USA: Coca-Cola sees full year revenue and profits fall
Non-alcoholic drinks giant Coca-Cola posted a fall in net operating revenue and gross profit in the 2015 financial year, according to the company's latest financial statements.
While organic revenue grew 4%, full-year net revenue declined 4% to $44.294 billion and gross profit was down 5% to $26.812 billion, the company reported. It noted, however, that global volume had grown 2% for the full year and also reported that it had "gained global value share in nonalcoholic ready-to-drink beverages in both the quarter and full year".
Commenting on the results, Coca-Cola CEO Muhtar Kent commented: "In late 2014, we laid out a clear five-point plan to reinvigorate growth and increase profitability. In 2015, a transition year, we delivered on this plan despite an increasingly challenging global macroeconomic environment. Our fourth quarter performance was a testament to the action we took as the Company continued to deliver solid pricing and unit case volume growth, culminating in 4% organic revenue growth for the full year. Importantly, this topline growth was led by our flagship market of North America, which delivered its strongest annual performance in three years".