(AOF) – Coca-Cola presented a better than expected performance and raised its forecast for annual internal growth. In the second quarter, the world’s number one sodas recorded a net profit, group share, down 28% to 1.9 billion dollars, or 44 cents per share against. Adjusted earnings per share came in at 70 cents, beating analysts’ expectations by 3 cents. Revenue rose 12% to $11.325 billion, compared to the consensus of $10.68 billion.
The group’s internal growth reached 16% and sales volumes increased by 8%.
This year, the Pepsi-Cola competitor is now targeting organic growth of between 12% and 13% against a previous target range of 7% to 8%.
Adjusted earnings per share are still expected to be up 5% to 6% from $2.32 in 2021.
AOF – LEARN MORE
Development of the Chinese dairy industry
The Chinese government encourages the consumption of dairy products to improve the nutrition and immune defenses of the population, while seeking to reduce the country’s dependence on imports. Wishing to turn the page on the melamine infant milk scandal, which affected 300,000 babies in 2008, milk production is picking up again in the country, after ten years of stagnation. The major industrial groups (Mengniu, Yili, Youran or Modern Dairy) do not export and concentrate on the domestic market, which is growing by 4 to 5% per year. They develop very large farms and rely heavily on innovation, investing four times more than all their competitors in the world.