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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Food & drink

Coca-Cola HBC says revenue recovering as markets exit lockdowns

Sales were 5% down last month from a 36% decline in April

Coca-Cola HBC AG (LON:CCH) said revenue has been gradually improving as its markets exit lockdown.

Sales were 5% down last month from a 36% decline in April when the pandemic had a significant impact on the out-of-home channel with closures of bars and restaurants, which usually account for 40% of total sales.

READ: Coca-Cola HBC CFO to step down next year

The FTSE 100-listed firm said plans to help customers included fast re-routing to active outlets, providing equipment for new hygiene needs and overall support as they restart their businesses, rebuild trust in the industry and manage traffic.

In the six months to June 26, the bottler of Coca-Cola drinks saw volumes slide 9% to 990mln unit cases and sales drop 15% to €2.8bn, while adjusted underlying earnings (EBITDA) were 16% lower at €399mln.

Shares added 5% to 2,130p on Wednesday at the opening bell.

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