Coca-Cola HBC records modest gains in Q3 | Progresiv

Coca-Cola HBC has reported modest gains in revenue and volume for its fiscal third quarter, driven in particular by its performance in emerging markets.

For the quarter, reported revenue rose by 5% to 1.96 billion euros and by +3.4% on a constant-currency basis, with volumes up 1.1%.

In established markets, revenue rose by 2.1% (+1.5% constant-currency), with volumes up 1.2%.  In developing markets, revenue edged up 0.1% (+0.4% constant-currency), although volumes slid by 4%.  And in emerging markets, revenue grew by 9.8% (+6.5% constant-currency), even as volumes rose by 3%.

The bottling giant said its brands gained or maintained share in the majority of its markets.

CEO Zoran Bogdanovic noted: “In a quarter in which unseasonably cold and wet weather significantly depressed industry volume growth in a number of our countries, we are pleased to have gained or maintained share in the majority of our markets and to have made progress with our commercial strategy which delivered a step-up in price/mix and ongoing growth in key areas of strategic focus such as Trademark Coke, Adults, Zeros and innovation.”

Bogdanovic also said the company has seen an acceleration in the fourth quarter, saying this has given it “confidence that 2019 will be a year of solid top-line growth and good margin expansion.” (www.kamcity.com)