(AP Photo/Gene J. Puskar) (Gene J. Puskar)Coca-Cola said higher prices didn't hurt demand for its drinks in the fourth quarter, but it expects slower growth ahead as inflation cools and price increases moderate. The Atlanta company said Tuesday it expects organic revenue growth of 7% to 8% this year which would be half the 16% growth it delivered in 2022. Pricing and mix — which includes changes in package sizes — contributed 12% to revenue growth in the fourth quarter, while concentrate sales rose 2%, Coke said. Case volumes fell 1% in Asia as strong growth in India and Vietnam was offset by pandemic restrictions in China. Coke's rival PepsiCo also benefited from price hikes in the fourth quarter, and last week reported better-than-expected sales.

Source: The Star February 14, 2023 12:28 UTC