With soaring fourth-quarter profits and business booming among less sugary drinks, Muhtar Kent reiterated Tuesday that he wants Coca-Cola to be part of America’s obesity discussion.
Kent, chairman and chief executive officer of the Atlanta-based beverage giant, said he still thinks it’s unfair to blame the nation’s expanding waistline on the soda industry, but said Coca-Cola wants to help find a solution.
“There is an important conversation going on,” he said of the obesity issue, adding that the company could use its marketing muscle to make a difference. “We can create awareness and we will.”
The beverage industry, in which Coca-Cola is the biggest player, has increasingly been targeted by health advocates for its sugary drinks. The company released a commercial last month addressing the issue, but was heavily criticized by detractors and some in the media.
Coca-Cola’s worldwide sales have remained strong, with the company reporting Tuesday that earnings rose 13 percent in the fourth quarter. Net income was $1.87 billion or 41 cents a share in the fourth quarter of 2012, up from $1.66 billion or 36 cents a share during the same period a year earlier. Revenue climbed to $11.46 billion in the fourth quarter of 2012.
But carbonated beverage volume fell 2 percent in the quarter in North America, the company’s biggest market. Kent said that was offset by higher prices and increased variety of drink sizes. Coca-Cola Zero and Fanta had mid-single to double-digit growth as the company increased distribution of the drinks.
Worldwide volume was up 4 percent for the year, with Coca-Cola sales rising 3 percent globally in 2012. Volume in Europe, however, declined 5 percent in the quarter and 1 percent for the year.
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