Coca-Cola Company (NYSE:KO) Stands To Lose, Financially

Posted by Samantha Donahue September 30, 2013 0 Comment 1287 views

Keep Australia Beautiful is a very prominent and trusted environment group in Australia that receives funding from The Coca-Cola Company (NYSE:KO). The group is now lobbying governments to oppose a certain Bottle & Can recycling scheme. Over 1/4th of the organization’s revenue is funded by the global giant.

A loss that could take place

Thus, it is but natural that critics are questioning the credibility of the environment group because of its Coca-Cola connection. Representatives of the group have been working in tandem to lobby the state governments in Australia, to reject the national-container scheme and find an alternative for it. In the Northern Territory as well as in South Australia, consumers are given a refund of 10 cents whenever they return a can or a bottle to any depot. If this proposal is approved, The Coca-Cola Company (NYSE:KO) stands to lose, financially.

In the current financial year, The Coca-Cola Company (NYSE:KO) donated $441,000 to

Keep Australia Beautiful. But Peter McLean, the Chief Executive of the environment group said that despite the funding, they are not a mouthpiece for the company.

Friday’s trading

In Friday’s trading session, Coca-Cola Company (NYSE:KO) dropped by 0.88%. The opening price of the shares was $38.57 which rose to an intraday high of $38.58 and dropped to a close of $38.40. Approximately 12.61 million shares were traded on Friday and the average volume of shares traded over a 30 day period was $14.68 million. The 52-week low of the shares was $235.586.99 and the 52-week high was $43.43.

The company

The Coca-Cola Company (NYSE:KO) was incorporated on 5 September 1919. It is a beverage-company. It owns, licenses and markets over 500 non-alcoholic beverage-brands. These are mainly sparkling beverages but it also has a range of still beverages, like waters, enhanced-waters, juices as well as juice-drinks, “ready-to-drink” coffees and teas and sports and energy drinks

About Samantha Donahue

Samantha Donahue is a digital fellow with GDP insider. Samantha earned a Bachelor's degree in Government from Cornell University and later his Master's degree in Journalism from Columbia University. She has also received numerous awards from the Associated Press, Society of Professional Journalists, and other media organizations for many of her exclusive stories. Samantha thrives reporting on breaking news and as a general assignments news reporter.

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