Diet Coke reboot drives Coca-Cola sales bounce

The launch of its popular low-calorie Diet Coke aimed at millennials — ginger-lime, feisty cherry, blood orange and twisted mango — helped the brand return to volume growth in the quarter. (Reuters)
Updated 24 April 2018
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Diet Coke reboot drives Coca-Cola sales bounce

Coca-Cola Co. beat Wall Street estimates with quarterly results on Tuesday, citing more demand for Coke Zero Sugar and new flavors under its Diet Coke brand as overall revenue topped expectations by around $300 million.
Shares of the Dow component were up nearly 1 percent at $44.44 in pre-market trade.
The company said the launch of its popular low-calorie Diet Coke aimed at millennials — ginger-lime, feisty cherry, blood orange and twisted mango — helped the brand return to volume growth in the quarter.
Unit case volume rose 4 percent for sparkling soft drinks and 5 percent for its teas and coffees, Coca-Cola said in a statement.
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.
Excluding items, Coke earned 47 cents per share, compared to analysts’ estimate of 46 cents per share, according to Thomson Reuters.
Revenue fell 16 percent to $7.63 billion, due to the divestment of its bottling operations, but beat analysts’ estimate of $7.34 billion.


Iran says no OPEC member can take over its share of oil exports -SHANA

Updated 19 August 2018
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Iran says no OPEC member can take over its share of oil exports -SHANA

  • Senior Iranian diplomat urges OPEC’s secretary general to keep the group away from the political agenda of some members
  • Iran has asked OPEC to support it against new US sanctions

LONDON: A senior Iranian diplomat urged OPEC’s secretary general to keep the group away from the political agenda of some members and said none should be allowed to take over another’s share of its oil exports, Tehran’s oil ministry news agency said on Sunday.
“No country is allowed to take over the share of other members for production and exports of oil under any circumstance, and the OPEC Ministerial Conference has not issued any license for such actions,” SHANA quoted Kazem Gharibabadi, Iran’s permanent envoy to Vienna-based international organizations was quoted as saying.
Iran has asked OPEC to support it against new US sanctions and signalled it is not yet in agreement with Saudi Arabia’s views on the possible need to increase global oil supplies.