Coca-Cola raises FY guidance amid revenue spike
The forecast comes as the group saw net revenues soar 42% year-on-year to $10.1bn (£7.3bn) in the second quarter of FY21
The Coca-Cola Company has raised its expected organic revenue growth for the full year to between 12% and 14%.
The forecast comes as the group saw net revenues soar 42% year-on-year to $10.1bn (£7.3bn) in the second quarter of FY21.
The company also reported a 37% spike in organic revenues (non-GAAP) for the quarter ended 2 July 2021.
James Quincey, chairman and CEO at the company, said: “Our results in the second quarter show how our business is rebounding faster than the overall economic recovery, led by our accelerated transformation.
“As a result, we are encouraged and, despite the asynchronous nature of the recovery, we are raising our full year guidance.”
He added: “We are executing against our growth plans and our system is aligned. We are better equipped than ever to win in this growing, vibrant industry and to accelerate value creation for our stakeholders.”
Coca-Cola’s EMEA arm represented the strongest growth to both reported net revenues and organic growth during the quarter, increasing a respective 67% and 61% year-on-year.
Meanwhile, its North American and Asia Pacific operations saw organic revenues increase at a slower rate of 28% and 21% respectively.