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article imageCoke sees profits dip

By Tim Sandle     Feb 19, 2014 in Business
Due to falling sales in the U.S. and across Europe, shares in the soft drinks manufacturer Coca-Cola saw their biggest fall in two years. U.S. sales have fallen by over 4 percent, with a similar decline occurring across Europe.
Coca-Cola's fourth-quarter net income fell 8.4 percent from a year earlier to $1.7 billion, The Financial Times has reported. This was well below estimates from business analysts. The Daily Telegraph notes that U.S. sales have fallen by over 4 percent, with a similar decline occurring across Europe.
Commenting on the business data, Coca-Cola chief executive Muhtar Kent said in a statement: "While we move forward in what remains an uncertain global economy, the long-term fundamentals driving our business and industry have not changed." He added, signalling that the sugary beverage is the drink of aspiration: "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."
According to the BBC, the trend for fizzry, sugared drinks may be in decline. PepsiCo has also seen a decline in sales, and Coca-Cola have been branching out into other drink options, such as juices, teas and water. Furthermore, last month, the Atlanta based company bought a 10 percent stake in Green Mountain Coffee Roasters for about $1.25 billion.
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