GREECE: Coca-Cola HBC Q3 beats expectations
The strong performance helped Coca-Cola HBC to increase its full-year net profit forecast, again, to above €100m. The first half of the year beat forecasts, which prompted the company to increase its guidance from €70m to between €90m and €100m.
The company attributed the growth to warm summer weather in key markets and newly-acquired water businesses. Lower interest rates and taxes also contributed to the strong figures.
Coca-Cola HBC jointly acquired, with the Coca-Cola Company, Swiss mineral water bottler Valser and Romanian peer Dorna Apemin in 2002. The two companies contributed around 3% of overall company volume growth and 2% of earnings before interest, taxes, depreciation and amortisation (EBITDA) growth.
Nine month company revenue rose by 4% to €3.15 billion from €3.01 billion.
Coca-Cola Hellenic Bottling Company (CCHBC) has agreed to acquire, jointly with The Coca-Cola Company (TCCC), the Italian mineral water company Traficante Group for EUR35m (US$41.6m)....
Heineken's Bulgarian brewing arm, Zagorka, plans to invest BGN15m (US$9.1m) this year to modernise its facilities and drive sales....
Coca-Cola Hellenic Bottling Co. has acquired Serbian juice maker Fresh & Co. in a joint deal with Coca-Cola Co....
Coca-Cola Hellenic Bottling Company today (20 January) appointed company veteran John Brady as region director....
Carlsberg has invested heavily in its brewery in the south-west of Bulgaria....
Coca-Cola HBC has reported rising underlying profits for the third quarter of the year....
Zagorka has sold its malt plant....
Coca-Cola Hellenic Bottling Company has reported a 9% rise in volumes in its first half of the year, leading to a 5% jump in operating profits and a 1% increase in net income....
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