date:Aug 09, 2013
see a further improvement in the margin in the second half.
Underlying sales growth, which strips out currency swings and the impact of acquisitions, was composed of 2.7 percent volume growth and a 1.4 percent contribution from pricing. The latter was held back by weakness in Europe, where the group passed on lower coffee prices to consumers.
Pricing growth (in the quarter) was the lowest for over a decade ... and brings fears of a collapse in pricing in coming quarters, said Bernstein analyst