But the company predicted slower volume growth in the second quarter.

Because of the slowing economy, last year was not the time to count on strong volume growth.

He added: "For 29 out of the last 30 years we have had volume growth.

For the fourth quarter, Coke said its volume growth was slightly better than expected.

"They have enough contracts to produce volume growth of 30 percent a year."

Continued global volume growth made it necessary to expand capacity, and a second production floor was fitted out in 2005.

Brand recognition reached a reported 95%, and volume growth rose up to 50% in some markets.

"You've got to have long-term, sustainable volume growth to make it work."

But simply having more 21-year-olds in the mix is no guarantee of volume growth, others say.

Phone service sales rose 5.1 percent, to $5.24 billion, on volume growth of 6.5 percent.