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COCA-COLA RAISES ANNUAL FORECASTS AS DEMAND UNAFFECTED BY PRICE HIKES


Coca-Cola Co (KO.N) raised its annual revenue and profit forecasts after beating quarterly results on the back of higher pricing, with demand for its sodas remaining resilient at a time when consumers are cutting back on non-essential spending. Recent results from rival PepsiCo (PEP.O) and consumer products makers in Europe such as Unilever (ULVR.L) point to steady consumer spending on sodas, snacks and other essential items, with little to no resistance to the multiple prices hikes undertaken to offset the impact of rising costs.

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