Stagnant Coke profitsThis article was originally published in Foodnews
A WEAK US dollar and a drop in consumer demand in many world markets has kept Coca-Cola Co's third quarter profits in check. Profits rose by 1% to US$1.32 billion (or US$0.81 per share) after revenue slumped to US$8.04 billion. Chief executive Muhtar Kent said, however, that the company's fundamentals remain strong and that growth is good in key emerging markets, such as China, where it has launched new lines. The company is also appealing to cash-strapped US consumers by introducng new smaller and cheaper packs.