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Coca Cola shares are trading slightly lower pre-market on Tuesday. This is despite news that the company is expanding its operations in China.
The US beverage giant announced that it is increasing its production in China with plans for at least 6 new facilities. The company has taken the move in response to a solid set of Q2 sales figures in China. The company reported that sales in China were seen growing firmly over the period amidst a solid Q2 earnings report globally,
China growth Noted During Lockdown
Commenting on the company’s success in China over Q2, Coca Cola CEO James Quincey said:
“In China, we placed a big emphasis on our sparkling portfolio during the height of the lockdown.” As a result, the category grew 14% in volume this quarter, led by trademark Coke with strong growth in Zero Sugar offerings.”
Coca Cola confirmed that the expansion should be complete by the end of the year, with plans to expand further in 2021 also cited. The new facilities are expected...
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