Coca-Cola profit fall by 60% on refranchising charge

U.S. drinks giant Coca-Cola reported a 60.2 percent fall in quarterly profit, as the beverage maker incurred a charge of $653 million related to refranchising its North America bottling operations.

Net income attributable to Coca-Cola’s shareholders dropped to $1.37 billion during the second quarter of 2017, compared with from $3.45 billion in 2016.

Source: Reuters