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Coca-Cola gross profit rises 8pc in 3Q10, driven by strong Asian growth

The Coca-Cola Company on Tuesday announced its third quarter operating results ended on 1 October 2010. Net operating revenues jumped 5 percent to USD8.43 billion from USD8.04b. Gross profit grew 8 percent from USD5.11b to USD5.51b.

Eurasia & Africa reported 16 percent rise in net operating revenues from USD537 million to USD624m. Gross profit grew 20 percent to USD221m. Pacific region saw net operating revenues jump 21 percent to USD1.54b from 1.27b. Gross profit rose 33 percent to USD586m.

The company detailed in its report that Eurasia and Africa volume grew 12 percent in the quarter, with broad-based growth across all business units and beverage categories. India achieved its 17th consecutive quarter of volume growth despite record rainfall in the quarter and cycling a strong 37 percent growth in the prior year quarter. Pacific volume grew 11 percent in the quarter, cycling 6 percent growth in the prior year quarter. These results were supported by 12 percent growth in China, 11 percent in Japan, 19 percent in the Philippines and 13 percent in Korea. 

"We are very pleased with our third quarter performance. We successfully completed our acquisition of Coca-Cola Enterprises’s (CCE’s) North American business and the sale of our Norway and Sweden bottling operations to CCE, on plan and in line with our commitment. And we closed this transaction on the heels of a strong quarter. We continue to build on our momentum, delivering solid volume, revenue and profit growth this quarter, with our results exceeding all of our long-term targets and generating sustainable value for our shareowners," said Muhtar Kent, chairman and CEO of The Coca-Cola Company.