Coca-Cola Consolidated announced a 30 percent jump in its
second quarter profits compared to last year, with net income climbing from $11.7
million to $15.2 million.
During the same period, revenues climbed about one percent
from $390.4 million to $396 million.
“While
commodity costs continue to be extremely challenging, we have been able to
offset some of these increased costs with a combination of operating expense
reductions and price increases,” said Chairman and CEO J. Frank Harrison, III
in a press release.
The company also said it expects to
complete a restructuring plan by the end of the third quarter, with a total cost
approximated at $4-5 million. Company president and COO William Elmore said he
expected the plan to deliver “substantial savings.”
