Georgia, United States — Coca-Cola Co’s second-quarter profit rose 18 per cent on strong growth overseas and the acquisition of a bottler. The results beat expectations and the company’s stock hit a 52-week high yesterday.

The world’s largest beverage maker has shown consistent growth for years because of major gains in emerging markets such as Latin America, India and China, coupled with steady sales in established markets.

Coca-Cola, based in Atlanta, is now relying more critically on these regions as its business in established markets like the US and Europe continues to be crimped by economic woes.

CEO Muhtar Kent said the results in an uncertain economy are a testament to the company’s strong brands and business fundamentals.

“Many middle-class consumers, especially those in developed economies, are still feeling somewhat confused and fragile,” Kent told investors. “At the same time, however, many emerging markets are doing quite well. … With this as a backdrop, our focus is on maintaining a long-term vision of where the world is headed and in turn, where the Coca-Cola company wants to go.”

Coca-Cola reported yesterday that its net income rose to US$2.8 billion, or US$1.20 per share, from US$2.37 billion, or US$1.02 per share, in the same quarter last year. Revenue climbed 47 percent to US$12.74 billion, largely on its bottler acquisition.

The results beat analyst forecasts of US$1.15 per share on revenue of US$12.39 billion, according to FactSet.

Coca-Cola, which has more than 500 brands including Fanta, Sprite, Dasani and Minute Maid, said its global sales volume increased 6 percent. The company’s international sales volume was up 6 percent and sales volume rose four per cent in North America.

Revenue gain was largest in North America due to its acquisition of its largest bottler. Its revenue jumped 15 per cent in its Africa markets, 10 per cent in Europe, 13 per cent in Latin America and 21 per cent in Asia.

But the company said some uncertainty remains in Japan following the March earthquake and tsunami. While the company does not issue full earnings guidance, it said that is likely to decrease its full-year earnings by three cents to five cents per share.

The rising costs for ingredients and packaging that weighed on the company last quarter remain high, but the company said it has adequately adjusted its expectations for the year based on pricing. Coca-Cola said it has raised prices for what US consumers pay in stores by one to two per cent already to offset those costs and has an additional two to three per cent increase planned for the second half of the year.

Company leaders also said while commodity costs, which have been a top concern of most consumer products companies this year, will remain a challenge, they estimate some of those pressures may begin to mellow next year.

Shares of the company rose US$2.27, more than three per cent, to US$69.39 in midmorning trading.