Coca-Cola’s Profit Rises 4.6% in Quarter

Coca-Cola Co. said Thursday that its net profit rose 4.6% in the fourth quarter from a year earlier, when the company had a one-time gain of $4.3 million from discontinued operations.

The world’s largest soft-drink maker said its profit rose to $130.4 million. Revenue in the quarter rose 2.9% to $1.78 billion from $1.73 billion, Coca-Cola said.

Excluding the one-time gain in the fourth quarter of 1983, profit from continuing operations rose 8.4% in the latest quarter, Coca-Cola said.

For the full year, the Atlanta-based company said its profit rose 12.5% to $628.8 million from $558.8 million in 1983. Profit per share was $4.76, up 16.1% from $4.10, the company said.

Revenue for the 1984 year rose 7.8% to $7.36 billion from $6.83 billion, the company said.

Roberto C. Goizueta, chairman and chief executive, said that in 1984 Coca-Cola “achieved our strongest gain in earnings per share in eight years and our highest return on equity in over 10 years.” He said Coca-Cola’s worldwide soft-drink volume increased 6% in 1984, and U.S. soft-drink volume advanced 10%, double the industry rate of 5% in the United States.

He said 1984 results “clearly demonstrated that we are on target with our long-term goals, making us even more confident that the strategic course charted for this company will continue to provide us proper direction in the years ahead.”

The company attributed its average shareholders’ equity of 22.1% last year to strong earnings performance and the repurchase of 6 million shares of the company’s stock during the year.

Coca-Cola also announced that it is increasing its quarterly common stock dividend to 74 cents a share from 69 cents, payable April 1 to shareholders of record March 15.

Caesars World’s Profits Up 47% in Second Quarter

Caesars World Inc., which operates hotel-casinos in Nevada and New Jersey, reported that profits were up 47% in the second quarter and 82% for the first six months of its fiscal year.

For the three months ended Jan. 31, the company said it earned $4.4 million on revenue of $149.6 million, compared to a year earlier when it earned $3 million on revenue of $154.7 million.

For the first half of the year, Caesars had income of $13.3 million on revenue of $316.2 million, compared to a year earlier when it earned $7.3 million on revenue of $315.1 million.

The increased income came primarily from the company’s resorts in Las Vegas and Reno, said Caesars Chairman Henry Gluck.

Higher income from the Nevada operations more than offset a decline from Caesars Atlantic City, which has been hurt by increased competition and less patronage than expected, Gluck said.

Caesars World is headquartered in Los Angeles.

For detailed data and results of other companies, please see tables, Page 11.