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Coca-cola sells its bottling operations as revenue tumble 20 percent

The slide is related to the new United States tax laws

Coca-cola sells its bottling operations as revenue tumble 20 percent

The slide is related to the new United States tax laws

16 February 2018 Friday 17:25
Coca-cola sells its bottling operations as revenue tumble 20 percent

By Azania Post Reporter

Coca-Cola has announced to continue selling its bottling operations as the company faces loss in some of its products due to the charge

According to Reuters, Coca-Cola reported a 20 percent decrease in quarterly revenue Friday as it continues to sell off its bottling operations, and recorded a $3.6 billion charge related to the new United States tax laws.

Some of its products namely Fanta and Diet Coke maker reported a net loss of $2.75 billion, or 65 cents per share, in the fourth quarter endedDec. 31 last year, mainly due to the charge. A year earlier, the company had posted a profit of $550 million, or 13 cents per share.

Net operating revenue fell to $7.51 billion from $9.41 billion a year earlier, mainly due to the re-franchising of its bottling operations, but beat analysts’ approximate of $7.36 billion

Azania Post

Updated: 17.02.2018 21:15
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