{"id":885,"date":"2014-02-19T09:19:10","date_gmt":"2014-02-19T09:19:10","guid":{"rendered":"http:\/\/citi.hatuasolutions.com\/?p=885"},"modified":"2014-02-19T09:19:10","modified_gmt":"2014-02-19T09:19:10","slug":"coca-cola-shares-hit-by-profit-fall","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/02\/coca-cola-shares-hit-by-profit-fall\/","title":{"rendered":"Coca-Cola shares hit by profit fall"},"content":{"rendered":"
\"Coca-Cola<\/a>
Coca-Cola is the world’s biggest drinks company<\/figcaption><\/figure>\n

Shares of beverage giant Coca-Cola saw their biggest fall in two years after its profit fell due to slowing sales in the US and Europe.<\/p>\n

Coca-Cola’s fourth-quarter net income fell 8.4% from a year earlier to $1.7bn (\u00a31bn), missing analyst estimates.<\/p>\n

Revenue also fell, partly due to currency fluctuations and the sale of its bottling operations in Brazil and the Philippines last year.<\/p>\n

Its stock lost as much as 4.3% in US trading after its earnings release.<\/p>\n

Coca-Cola chief executive Muhtar Kent said they were looking to “restore momentum” to its business this year.<\/p>\n

“While we move forward in what remains an uncertain global economy, the long-term fundamentals driving our business and industry have not changed,” he said in a statement<\/a>.<\/p>\n

“A rising middle class, greater urbanization and increasing personal consumption expenditures in markets around the world will continue to drive greater demand for our beverages.”<\/p>\n

Coffee boost?<\/strong><\/p>\n

Coca-Cola plans to increase its spending on advertising to spur sales, while simultaneously looking to save $1bn in annual costs by 2016.<\/p>\n

The Atlanta-based company has also been branching out into other drink options, such as juices, teas and water.<\/p>\n

Last month, it also bought a 10% stake in Green Mountain Coffee Roasters for about $1.25bn.<\/p>\n

Rival PepsiCo has also been struggling with weak sales of carbonated soft drinks, and announced plans last week to close plants and increase automation to save money.<\/p>\n

Source : BBC<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of beverage giant Coca-Cola saw their biggest fall in two years after its profit fell due to slowing sales in the US and Europe. Coca-Cola’s fourth-quarter net income fell 8.4% from a year earlier to $1.7bn (\u00a31bn), missing analyst estimates. Revenue also fell, partly due to currency fluctuations and the sale of its bottling […]<\/p>\n","protected":false},"author":14,"featured_media":890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[4],"yoast_head":"\nCoca-Cola shares hit by profit fall - Citi 97.3 FM - Relevant Radio. 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