COCA-COLA – Profit exceeds estimates

ATLANTA – Coca-Cola Co. said profit fell less than analysts anticipated on increased demand for soda in China and Russia and healthier beverages such as bottled water in Germany.
Net income declined 22 percent to $678 million, or 29 cents a share after its largest bottler wrote down the value of its North American unit, the Atlanta-based company said today in a statement. Excluding that, Coca-Cola earned 52 cents in the fourth quarter, topping analysts’ estimates by 2 cents.

The company sold more Coca-Cola in emerging markets to lift global volume 4 percent, and promoted Georgia Coffee in Japan to win back customers after three quarters of declining sales. Chief Executive Officer Neville Isdell has concentrated on overseas growth as consumers in North America switch to sports drinks and tea, categories led by PepsiCo Inc.

The company ran new advertisements for Georgia Coffee in Japan, where it gets one-fifth of its profits, to lift volume 2 percent in that country. Previous marketing, part of an effort to appeal to younger drinkers, turned off some middle-aged consumers, the company has said.