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Coke's bubbly US sales not enough to offset profit plunge


Coke's bubbly US sales not enough to offset profit plunge


Coca-Cola has reported a not so sweet 55 percent plunge in quarterly profit.

The strength of the bubbly dollar hit its revenue from sales outside of the United States for the world’s largest beverage maker.

That was partly offset by the fact that it did make more in North America, its biggest market, in the final three months of the year.

Through most of last year sales there were flat or weaker as US consumers opt for healthier drinks, shifting away from diet sodas due to concerns over artificial sweeteners.

Analysts said Americans are still drinking less soda but are paying higher prices for it.

Coke said in October it would cut costs and announced a timeline for selling its lower-margin bottling operations.

“We continue to see 2015 as a transition year as the benefits from the announced initiatives will take time to materialize amidst an uncertain and volatile macroeconomic environment,” Chief Executive Muhtar Kent said.

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