FTSE 100-listed bottling company Coca Cola HBC AG (LSE:CCH) has increased its full-year outlook to account for strong recent performance across its key markets.
It now anticipates organic revenue growth between 11% and 13%, up from a prior estimate of 8% to 12%.
Coca Cola HBC expects organic EBIT growth to range from 10% to 12%, a tighter range from the previous 7-12% target, citing ongoing positive results despite mixed economic conditions.
This is the second forecast upgrade this year, following a re-rating in August.
Exceptionally strong third-quarter results in the energy drinks and coffee segments, which saw year-on-year revenues surge 28% and 35.6% respectively, supported the improved forecast.
Chief executive Zoran Bogdanovic stated: "We are mindful of macroeconomic and geopolitical challenges as well as a mixed consumer environment.
“However, reflecting our strong performance in the first nine months and our confidence that we can continue to win in the marketplace, we are updating our guidance for the year.”
Shares added 2% to 2,723p on Thursday.