(Reuters) -Coca -Cola reported on Tuesday revenues and benefits better than expected for the first quarter, because the drinks giant benefits from price increases and high demand for sodas, juice and milk offering Fairlife.
The manufacturer of Sprite and Fanta has maintained its annual organic income and its comparable profit forecasts, unlike Pepsico and Procter & Gamble which reduced their annual expectations, because the World Trade War triggered by high American prices threatened to increase costs for American companies.
“Operations (Coca-Cola) are mainly local, however, it is subject to the dynamics of world trade which can have an impact on certain components of the company's cost structure on its markets,” he said in a press release.
“For the moment, the company expects the impact to be manageable.”
Coca-Cola shares increased by 1% in trading prior to the market.
Last week, its rival Pepsico summoned moderate consumption expenses, but the demand for slightly expensive Coca-Cola products has so far remained stable, helping to increase sales growth despite price increases on highly inflationary markets such as Argentina and Latin America.
Its overall average selling prices increased by 5% in the first quarter, while unit case volumes increased by 2%.
The quarterly income dropped slightly to $ 11.22 billion. An average analysts expected a drop of 0.84% to 11.14 billion dollars, according to data compiled by LSEG.
On an adjusted basis, the company won 73 cents per share, against 71 cents.
(Report by Ananya Mariam Rajesh in Bengaluru; edition by Devika Syamnath)
