Coca-Cola HBC readies Monster launch in Nigeria
Coca-Cola HBC is set to launch Monster to Nigeria in the second half of the year
Coca-Cola HBC has said it will launch the Monster energy brand in Nigeria during the second half of the year.
Speaking to analysts following the company's first-quarter trading update, CEO Dimitris Lois said Monster would launch in "late Q3, early Q4". The company had hinted at a launch last August, though declined at the time to give further details.
"We are excited... with the energy category," said Lois. "We don't have something right now in Nigeria."
Nigeria has proved a challenging market for many drinks companies amid currency turmoil. However, CCHBC hailed the country's "strong performance" for the eighth consecutive quarter.
"Obviously it is a very challenging external environment, taking into consideration the FX overall situation," said Lois. "We are very strong in Nigeria. We continue to see Nigeria as a key growth driver."
He said the company expects mid-single digit growth, "potentially going to high-single digit" for 2016.
Giving more colour, he said sparkling PETs were driving overall volumes growth, along with 50cl returnable glass bottles. The company is also set to introduce additional packages to the market, including a 60cl PET format.
Outside of CSDs, Lois said the company's Pulpy juice had seen "growth of 45%". The brand was launched in Nigeria last September.
"We are [also] very happy to see a high single-digit growth in water. So, all cylinders are firing," he added.
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