Coca-Cola income up 18% in year
February 13, 2008
by FoodBusinessNews.net Staff
ATLANTA — Increased sales and balanced growth attributed to a 18% growth in net income for The Coca-Cola Co. in the full-year 2007.
For the year ended Dec. 31, the company’s net income was $5,981 million, equal to $2.59 per share on the common stock, which compared with $5,080 million, or $2.16 per share, during 2006. Operating revenue for the year was $28,857 million, up 20% from $24,088 million during the previous year.
"This has been a year of significant accomplishment," said Neville Isdell, chairman and chief executive officer. "We have delivered strong business results and increased value to our shareowners by expanding our consumer appeal across our beverage brands and connecting in very meaningful ways with the communities we serve. By successfully executing our clearly defined strategies with our bottling partners, we delivered 6% unit case volume growth for the year and four consecutive quarters of double-digit earnings per share growth."
International operations contributed 8% unit case volume growth for the year, and the company saw strong growth in sparkling beverages and still beverages.
The North America segment posted an operating income of $1,696 million for the year, up 1% from $1,683 million last year. Operating revenue for the year was $7,836 million, up 11% from $7,029 million during the previous year.
"Clearly, our strategies are right and our execution is working as 2007 was a successful year for The Coca-Cola Co.," said Muhtar Kent, president and chief operating officer. "As evident from our results, we consistently delivered on our promise of executing against our growth agenda. Our international business, led by emerging markets, continues to drive our overall growth, while stabilizing key markets like Japan, the Philippines and North America underscores our ability to re-energize major markets. Our three-cola strategy has revitalized the sparkling category, and we successfully expanded our still portfolio through key acquisitions like Glaceau, Fuze and Jugos del Valle while continuing to build our innovation pipeline."
For the fourth quarter, the company posted net income of $1,214 million, or 52c per share, up 79% from $678 million, or 29c per share, during the same quarter of the previous year. Net operating revenue for the quarter was $7,331 million, up 24% from $5,932 million during the same quarter of the previous year.