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Coca-Cola Bottling reports 36.7% increase in net sales for Q2

DBR Staff Writer Published 10 August 2016

Coca-Cola Bottling Co. Consolidated has reported a 36.7% increase in its net sales to $840.4m for the second quarter of this year, compared to $614.7m for the same period in 2015.

Net income declined to $17.32m for the quarter, compared to $28.9m in the year-ago quarter.

The company's operational income has gone up by $16.4m to $54.7m, while the comparable operational income has moved up by 12.4%.

Other expense was $16.3m in Q2, compared to other income of $6.1m in the second quarter of 2015. 

In comparison to the second quarter of 2015, the comparable operational income moved to $43.0m. This is an increase of $4.7m which was driven by growth in sales coupled with the leveraging of administrative expenses along with sales and delivery.

Coca-Cola Bottling Company Consolidated chairman and CEO Frank Harrison credited the growth to the addition of new distribution territories in Maryland and Delaware. The acquisition of two additional manufacturing facilities he says have also helped in the sales surge.

However, the company has seen a decrease of 42.1% to $1.68 in the consolidated basic net income per share. The comparable basic net income per share though saw an increase to $2.03 at 6.3%.

Coca-Cola Bottling Company Consolidated president and COO Hank Flint said: “The revenue growth in our comparable operations came from both our sparkling and still portfolios as we continue to invest to drive growth across our beverage business. Our ongoing focus on efficiently operating our business contributed to solid growth in income from operations for both the second quarter and first half of the year.

“We continue to be grateful for the dedication and outstanding efforts of the more than 10,000 employees building our values and culture at Coke Consolidated and driving positive results through the first half of 2016.”