Coca-Cola Updates Currency Outlook For 2018
The Coca-Cola Company updated its currency outlook on Wednesday at the Deutsche Bank Global Consumer Conference, while reaffirming other previously announced guidance for this year.
At the event, held in Paris between the 12 - 14 June, the drinks giant updated its Q2 and full-year 2018 expectations at constant-currency rates, taking into account the impact of hedged positions.
It now expects the currency headwind to second-quarter comparable net revenues (non-GAAP) to be between 0 and 1%, and expects the full-year currency headwind in 2018 to comparable net revenues (non-GAAP) to be in a similar range.
Meanwhile, the currency headwind effect on second-quarter comparable operating income (non-GAAP) will be roughly 2%, while the full-year currency headwind of the same will be in the range of 2 to 3%.
Organic revenue (non-GAAP) for 2018 will stay at a predicted growth of 4%, and comparable EPS from ongoing operations (non-GAAP) will reach a growth of 8 to 10%.
The Fanta and Sprite maker's net profit rose to $1.37 billion, or 32 cents per share, in the first quarter ended March 30 from $1.18 billion, or 27 cents per share, a year earlier. The increase was due to a jump in sales of Coke Zero Sugar and new Diet Coke flavours.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: European Supermarket Magazine.