Coca-Cola, the US soft drinks group, has reported a 3% decline in sales to restaurants and foodservice outlets in North America during the last quarter of 2007.
The company said that the fall for the last three months of 2007 was due to the “challenging restaurant industry environment”.
The group, however, reported overall fourth quarter results above analysts’ forecasts, with profits up 79% to $1.2bn (£614m).
The drinks giant recorded a 24% rise in revenue to $7.3bn, driven by sales of non-carbonated beverages.
Sales of the Glaceau enhanced water brand, which was acquired for $4.1bn in May, were recorded to have more than doubled during the quarter.
The group saw global sales increase by 4% in the last three months of 2007 and by 6% in the full year, as result of strong growth in China, India and Brazil, as well as Turkey, the Middle East and Europe-Asia.
North American sales, nevertheless, only rose by 1% compared to the same period last year, with sales of fizzy drinks in the region falling by 2%.
Neville Isdell, chief executive, described the fourth quarter as “a very positive finish to 2007” that “capped an excellent year for Coca-Cola”.
He said: “We realise that the journey is long and we are by no means declaring victory.”
Muhtar Kent, currently president and chief operating officer, will succeed Isdell as chief executive when he steps down on 1 July.
