Boston, MA 10/18/2013 (wallstreetpr) – The world largest beverage maker has not been so large in the bank this past quarter. The Coca-Cola Company (NYSE:KO), posted some not-so impressive results in the last quarter. The more than expected but low profits were slightly below what analysts had predicted and were majorly blamed on several factors like the unsteady currency in some of the countries that the company operates in.
Restructuring some of the bottling operations in countries like Brazil and Philippines has also been largely to blame. KO posted profit revenue of about 12.03 billion which is a 3% drop from the previous 12.34 billion. Despite the decline in profits, KO has announced a dividend payout of 28 cents per common share. This will be paid from December 16.
Not everything is on the downward for the world’s largest soft drink maker though. For example the company Chief Executive Officer Muhtar Kent stated that the company would continue to invest in its acquisitions which in the long term would strengthen its market base. KO has also gone ahead to increase its stakes in a Kenyan juice making company to an astounding 66.03%.
With resilient company brands like Coke raking in an impressive $181 billion, the company remained a force to reckon with despite the fact that soda is not doing so well worldwide. The company also expanded in volume posting a 5% increase in Pacific Asia, 21% in Vietnam, 9% in China, 4% in Eurasia and Africa.
However, the volume dropped in Europe by 1%. However, the company is experiencing stiff government restrictions with most imposing taxes on their products and those from competitors in the same market to help curb obesity in their respective nations. Despite these unforeseen circumstances, the company is set to grow with its entry in the fruit juice market.
