Coca-Cola Co. reported higher-than-expected sales in the first quarter as it continued to hike prices and its business in China improved. Pricing and mix __ which includes changes in package sizes __ contributed 11% to its revenue growth while concentrate sales rose 1%. Overall, Coke's soft drink sales rose 3%, led by strong demand for Coke Zero Sugar. Quincey said Coke's China business remains below pre-pandemic levels, but the company is "cautiously optimistic" and has resumed marketing in China. Higher sales of soft drinks, juice and dairy were offset by lower sales of water, sports drinks, tea and coffee.

Source: The Star April 24, 2023 12:00 UTC