News Snapshot:
The beverage maker said it would not provide a detailed full year 2020 financial outlook given the uncertainty surrounding the coronavirus pandemic . The maker of Coke and Thums Up soft drinks and Minute Maid juices said while sales are inching back toward normal, “a resurgent virus could continue to muddle near-term resultsâ€. While the Indian government began gradually unlocking since June, localised state-wise lockdowns continued to impact business in restaurants, malls and airlines, which resulted in significantly impacting out-of-home consumption. Out-of-home consumption accounts for 80% of sales of the soft-drink industry’s annual sales of over Rs 20,000 crore. It...
