Coca-Cola profit falls on charge at bottler
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Thu, 17 Jul 2008 11:12:03 GMT |
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Reuters |
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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) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
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