The US beverage manufacturer said weak economic conditions had hurt consumption, leading to an overall 3.6% decline in global revenues in the October to December period.
"While we move forward in what remains an uncertain global economy, the long-term fundamentals driving our business and industry have not changed," said chief executive
Demand remains strong
"A rising middle class, greater urbanisation and increasing personal consumption expenditures in markets around the world will continue to drive greater demand for our beverages," he said.
Net income for the fourth-quarter came in at
Quarterly earnings translated into
Currency fluctuations dragged down operating earnings by 4% for 2013. The company projected that currency effects would drag down this year's operating income by 7%, with a 10% reduction in the first quarter.
Analysts also expressed disappointment at Coca-Cola's projection that it would spend between
Coca-Cola said it plans
Source: AFP via
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