Coca-Cola Hellenic Bottling Co has recorded an increase in full-year profits

Coca-Cola Hellenic Bottling Co has recorded an increase in full-year profits

Coca-Cola Hellenic Bottling Co has recorded an increase in full-year profits, but said it remains cautious on 2011, thanks to pressure on commodity prices.

For the year to the end of December, net profits climbed by 8% to EUR450m (US$614m), the Greek bottler reported today (9 February). Operating profits rose by 5% to EUR682m.

Sales for the period reached EUR6.79bn, a 4% increase on the prior year.

Doros Constantinou, CEO of Coca-Cola Hellenic, said: "We are pleased to report that Coca-Cola Hellenic delivered a solid performance in 2010. Looking to the current year, we are encouraged that some of our key countries are exhibiting signs of economic improvement. However, we remain cautious as other key countries are continuing to endure economic challenges, and we are facing industry wide pressure on commodity prices."

In the fourth quarter, profits amounted to EUR33m, compared to EUR6m in the prior-year period. Operating profits edged up by 1% EUR61m.

Sales increased 7% to EUR1.49bn in the quarter.

Click here to view the full earnings release.