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Soft drink manufacturer Coca-Cola renounces partnership with cannabis maker Aurora Cannabis. They were in talks to market beverages infused with cannabis
Coca-Cola President and CEO James Quincey said this in a conversation with Yahoo Finance . In September, the non-alcoholic beverage giant said the cannabis market was still "close". Quincey gave no reason to give up this collaboration.
The cannabis market is becoming more and more popular among non-alcoholic beverage producers. The main competitor of the Coca-Cola company, PepsiCo, also plans to enter the market. "We are looking at it critically, but I am not yet ready to share our plans," said Hugh Johnston, chief financial officer, in early October, against US television channel "19459005". CNBC .
Behind the beer brand Corona has invested more than 3.4 billion euros in cannabis producer Canopy Growth and Heineken-based American brewer Lagunitas has also launched the soft drink Cannabis Hi-Fi Hops in the United States
Coca-Cola Earnings Growth
Quincey announced the news at the quarterly earnings presentation Coca-Cola posted a net profit of nearly 1.9 billion dollars (1.67 billion euros), an increase of 30% over the same period of the previous year.
The turnover dropped by 9% at $ 8.2 billion, which can be attributed to other, at the recent sale of bottling activities. Coca-Cola maintains its financial expectations for the entire year. The company expects earnings per share will have increased by 8 to 10% by the end of this year.
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