Coke demonstrate "early progress"

21/10/05 The Coca-Cola Company has reported third quarter earnings per share of $0.54, compared with $0.39 for the prior year third quarter. Third quarter reported earnings per share included a net charge of $0.03 per share due primarily to a $0.04 non-cash charge related to asset write-downs in the Philippines, partially offset by a $0.01 per share benefit related to the favorable resolution of tax matters.

Neville Isdell, chairman and chief executive officer, said, "This quarter demonstrates early progress in our efforts to achieve sustainable growth for the future. We continue to see good results in many markets, including Latin America, Africa, Russia, Turkey, central Europe, Japan and China, and stabilization in an increasingly focused North America. However, we still have considerable work ahead of us in other markets such as the Philippines, India and Germany, as well as to address current category trends in northwest Europe. In addition, we are monitoring the potential impact of energy costs and macro-economic trends on consumer sentiment and disposable income. As we close out 2005 and move into 2006, we will continue to lay the foundation for sustainable growth over the coming years."