Coca-Cola profit falls on charge at bottler
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Thu, 17 Jul 2008 11:12:03 GMT |
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NEW YORK (Reuters) - Coca-Cola Co reported lower quarterly profit on Thursday, hurt by an impairment charge at its largest bottler.The world's largest soft-drink maker's net income was $1.42 billion, or 61 cents per share, in the second quarter ended June 27, compared with $1.85 billion, or 80 cents per share, a year earlier.Excluding a 40 cent per share charge at Coca-Cola Enterprises Inc , which is partly owned by Coca-Cola, the company earned $1.01 per share.Like other soft-drink makers, Coke's U.S. sales have slowed as consumers grapple with soaring food and fuel costs, declining home values and job uncertainty. Also, increasingly health-conscious consumers have been opting for drinks seen as healthier, such as bottled teas or vitamin-enhanced waters.The company's brands include Minute Maid juice, Powerade sports drink and Dasani bottled water.(Reporting by Martinne Geller; Editing by Derek Caney)
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