REUTERS: Coca-Cola Co said on Tuesday demand for its beverages was improving after reporting a 28per cent slump in sales in the"most challenging" quarter of the year due to coronavirus-led closures of restaurants, theaters and sports venues.
But as lockdowns eased, unit case volume trends, a key demand indicator, improved sequentially, from a decline of about 25per cent in April to a fall of about 10per cent in June. Volume trends was down mid-single digits globally for July to-date. "Having said that, I am pretty confident that second quarter will ultimately prove to have been the most difficult and the most impacted quarter."Adjusted revenue fell to US$7.18 billion in the three months ended June 26, while net income attributable to the beverage maker's shareholders tumbled about 32per cent to US$1.78 billion.
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