Coca-Cola more than triples profit in fourth quarter

COCA-COLA Co, the world’s largest soft-drink maker, says fourth-quarter profit more than tripled after a one-time non-cash gain related to the acquisition of its north American bottling operations.

Net income advanced to $5.77 billion (€4.26bn), or $2.46 a share, the Atlanta-based company said. Excluding some items, profit was 72 cents, matching the average of estimates compiled by Bloomberg.

Coca-Cola, led by chief executive Muhtar Kent, now controls 90% of its north America beverage distribution following a deal last year with its largest bottler. The company boosted volume sales in the US and Canada by 8% for the quarter, the third consecutive quarterly increase.