Drinks maker Coca-Cola has reported a half year decline in profit of â‚¬146m, a fall of 28% from 2010.
The company said that its profit had declined from €202m last year, although its sale revenue had increase by 3%, to €3,396m.
The volume growth for the company also grew by 6% in developing markets, and 3% in emerging markets, with net sales growth of 3% in emerging and 8% in developing marketplaces. A 1% growth was experienced in established markets during the first six months of 2011.
Its brands also grew with the sparkling beverages volume increasing by 6%, while energy drinks grew by 41%, although water and juice feel by 3% and 8% respectively.
The premium brands have also grown in volume; Coca-Cola (8%), Coca-Cola Zero (9%), Fanta (4%) and Sprite (7%).
Coca-Cola also reported growth across key markets including Russia, Nigeria, Ireland, Romania, Italy, the Czech Republic and Poland while its net debt at the end of June was €1,916m.
Dimitris Lois, Chief Executive Officer of Coca-Cola Hellenic, commented: "In the second quarter, we delivered an improved top-line performance as we continue to win in the marketplace with our strong brand portfolio. Despite improved operating efficiencies, restructuring savings, and revenue growth management initiatives, high commodity prices combined with challenging economic conditions hindered our profitability.
“Consumer confidence remains fragile in most of our markets while the importance of the modern trade channel continues to increase. Looking into the remainder of the year we will grow revenue ahead of volume, win with our customers across all channels and drive cost leadership initiatives. Commodities are still expected to increase by low double-digits for the year. We remain committed to recover a substantial portion of this increase.
“We have a uniquely diverse geography and the world's most loved brands coupled with low per capita consumption. Our unmatched execution capabilities and our strong market positions in our countries, which we strategically advance every day, leave us very well placed to leverage the opportunities ahead."