Coca-Cola has announced an 11% fall in first quarter profits because of increased marketing costs and one-off charges.

However chairman and chief executive Neville Isdell was confident of an improved financial performance next year.

Sales in the first quarter grew faster than expected, particularly in China and Brazil which offset continued weakness in North America and Europe.

Isdell told Coke’s annual conference that the company was making good progress towards recovery.

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