GREECE: CCHBC doubles net profit for first nine months
The company said strong sales in emerging markets had offset the negative effects of bad weather in Europe over the summer. Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled €495m, up 16%, while turnover increased by 14% to €3.1 billion.
The result was well ahead of market forecasts. Analysts had been predicting a net profit somewhere in the region of €63.3m, representing a 64.4% increase on the previous period. CCHBC said it remained committed to its previously stated targets for the full year, including EBITDA growth of 14% to 16%.
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