Coca-Cola HBC lowers sales target following bad weather
The bottler now expects 2019 foreign exchange (FX) neutral revenue growth to be between 4% and 4.5%, against previous estimates within the range of 5-6%
Company
LON:CCH
Coca‑Cola HBC (Coca‑Cola Hellenic Bottling Company) is a bottling partner of The Coca‑Cola Company. This means that The Coca‑Cola Company manufactures and sells concentrates, bases and syrups to its bottling partners, owns the brands and is responsible for consumer brand marketing initiatives. We use the concentrates and syrups to manufacture, package, merchandise and distribute the final branded products to our trade partners and consumers. We bottle, sell and distribute the world’s most recognised soft drink: Coca‑Cola. Along with Coca‑Cola Light, Sprite and Fanta, also licensed to us by The Coca‑Cola Company, these are four of the world’s five best-selling non-alcoholic ready-to drink beverages. Still drinks – water, juices, tea and energy drinks – make up to 30 percent of our volume. This diverse portfolio means that we’re a strong partner for our customers and provide great choice for consumers. Coca‑Cola HBC is headquartered in Zug, Switzerland and has a premium listing on the London Stock Exchange and secondary listing on the Athens Exchange. Our two major shareholders are the Kar-Tess Holding S.A., a private holding company, and The Coca‑Cola Company.
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The bottler now expects 2019 foreign exchange (FX) neutral revenue growth to be between 4% and 4.5%, against previous estimates within the range of 5-6%
"We are pleased with this solid first half given the challenging combination of tough comparators and unseasonably cold and wet weather,” said chief executive Zoran Bogdanovic.
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The FTSE 100 soft drinks bottler said the purchase offered the opportunity for revenue synergies through cross-promotion, “complementary innovation”, and cost efficiencies
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In a note, the Swiss bank said the FTSE 100 drinks bottler had “organic sales growth at the top end of Staples well balanced between volumes and price/mix”
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"Our product portfolio is evolving to meet changing consumer preferences, and by partnering with customers we are strengthening our route to market," said Zoran Bogdanovic, the group's CEO
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The FTSE 100 bottler of Coca-Cola beverages reported an operating profit (EBIT) for the first half of €303.9mln, up 14.1% on the same period a year ago
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