Coca-Cola profits jump on sales to China and Russia

Coca Cola products
Image caption Coca-Cola said the price of its best-selling drink would have to rise by between 3-4%

The bottle maker and drinks giant Coca-Cola reported an 18% rise in profits to $2.8bn (£1.73bn) in the second quarter compared with last year.

The increase was fuelled by sales to Asia and Europe, with Chinese demand up 24%.

Despite higher worldwide sales, the company saw no quarterly growth in North America.

Coca-Cola plans to raise prices on its range of drinks, which include Fanta and Sprite, to reflect higher costs.

The price, said the company, would go up by between 3-4%.

The results were "well ahead" of the company's long-term growth targets according to its Chairman and Chief Executive, Muhtar Kent.

"We are delivering these strong results at a time when global macroeconomic conditions are at best mixed." said Mr Kent.

The slowdown in North American sales comes as the outlook for US consumer demand remains uncertain amid a weak labour market.

The volatility in commodity markets was also cited as a factor which would continue to drive up costs for packaging and sweeteners.

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