Coca-Cola HBC reports mixed H1 | Progresiv

Coca-Cola Helenic Bottling Company, one of the largest bottlers globally for Coca-Cola, has reported a mixed set of results for its fiscal first half.

For the six months to 3 July, revenue was down 3.4% to 3.04 billion euros, hurt by currency fluctuations (+2.4% constant-currency basis). Operating profit, however, was up 11% to 220.6 million euros, helped by price hikes during the period.

Overall volumes edged up 0.1%, as a 3.5% increase in its developing markets offset a 2.8% decline in established markets. It said volumes in Europe were impacted by unseasonably cooler weather during the spring.

Coca-Cola HBC said it is accelerating some restructuring plans, mainly in key emerging markets such as Russia and Nigeria. It now plans to invest 48 million euros this year, up from its earmarked 35 million euros, to benefit from operational efficiencies.

It also expects volume growth to improve in the second half of the year, adding that it expects “strong growth” in full-year revenue on a constant-currency basis. (www.kamcity.com)