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Coca Cola posts double-digit volume growth in India in Q1

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Global beverages major Coca Cola Company has reported double-digit volume growth in India and China in the first quarter of 2018.

Coca Cola posts double-digit volume growth in India in Q1
Global beverages major Coca Cola Company today reported double-digit volume growth in India and China in the first quarter of 2018

According to a PTI report: The company, which reported 3 percent growth in total unit case volume during the period with growth across all category clusters and geographic operating groups, said in the Asia-Pacific region, India and China outpaced more developed markets, including Japan and Australia.

Coca Cola said, in its unit case volume growth of 5 percent, the region for the quarter was driven by strong performance in China and India, partially offset by a low single-digit decline in Southeast Asia.

It further said, driven by favourable product mix — as sparkling soft drinks volume grew in double digits in China and India — its operating income growth outpaced revenue growth for the quarter for the Asia-Pacific region.

Coca Cola said its overall net revenues declined 16 percent to US $7.6 billion for the quarter, impacted by a 26 percent headwind from refranchising of bottling territories.

The company also said trademark Coca-Cola was the largest contributor, with a clear acceleration in all brands under the trademark.

The President and CEO was quoted by PTI as saying, “We’re encouraged with our first quarter performance as we continue our evolution as a consumer-centric, total beverage company.”