Coca-Cola sells lots more despite price hike

The price of cola has risen, a fact that has clearly benefited Coca-Cola. The price increases allow the soft drink giant to achieve a double-figure increase in turnover.

Not worried about Russia

On average, Coca-Cola soft drinks have become 7 % more expensive, according to Le Figaro. However, this has not stopped the cola giant from selling 11 % more in volume, thanks to the relaxation of sanitary measures. Bars and restaurants, cultural activities and events are once again allowed, allowing more soft drinks to be served. As a result, the group’s turnover increased by 16 % in the first quarter of this year.

Total sales were 10.5 billion dollars (9.8 billion euros), more than analysts had expected. The group’s net profit was 2.8 billion dollars (2.6 billion euros), again more than analysts had expected.

Remarkably, Coca-Cola is not overly concerned about the suspension of its operations in Russia. On 8 March, the soft drink producer withdrew from the country following the invasion of Ukraine, but the consequences remain relatively limited according to the group. Turnover and net profit would only fall by 1 to 2 % as a result of the withdrawal. For the year as a whole, Coca-Cola expects organic sales growth of between 7 and 8 %.